Indian benchmark indices extended the previous session gains with Nifty crossing 25,000 intraday on September 10, led by IT, financial, realty names. However, profit booking in auto and media stocks erased some of the intraday gains.
At close, the Sensex was up 323.83 points or 0.40 percent at 81,425.15, and the Nifty was up 104.5 points or 0.42 percent at 24,973.10. BSE midcap and smallcap indices rose 0.7% each.
Also Read - Fitch lifts India’s FY26 growth forecast to 6.9% on strong demand
Biggest Nifty gainers included Bharat Electronics, Wipro, HCL Technologies, Bajaj Finance, TCS, while losers were M&M, Hero MotoCorp, Bajaj Auto, Maruti Suzuki, Tata Motors.
Among sectors, auto index slipped 1%, while IT index added 2.6%, PSU Bank index was up 2.2% and realty index rose 1%.
Also Read: GST reform to stimulate consumption but may reduce government's revenue: Moody's
In stock-specific action
Apex Frozen Foods shares rallied 16%, Avanti Feeds surged 15%, Coastal Corporation shares jumped 20%, Gokaldas Exports surged 4%, Welspun Living added 8%, Arvind shares were up 4% as US-India hinted at resumption of negotiations to resolve the ongoing trade frictions.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 81,548.73 | 123.58 | +0.15% |
| Nifty 50 | 25,005.50 | 32.40 | +0.13% |
| Nifty Bank | 54,669.60 | 133.60 | +0.24% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Shriram Finance | 620.05 | 15.25 | +2.52% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Infosys | 1,509.70 | -22.90 | -1.49% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Energy | 34826.70 | 304.60 | +0.88% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty IT | 36003.45 | -180.35 | -0.50% |
Vikram Solar shares gained 5% as Q1 consolidated profit jumps 483%, Kellton Tech shares added 5.4% on MoU with E-Group ICT Software Zrt, MTAR Technologies shares added 4% on orders win of Rs 386 crore, Brightcom shares rose 5% on partnership with CQT Weapon Systems, Mamata Machinery shares rose 16% on winning order of $1.17 million, MIC Electronics share price rose 5.7% on MoU with Singapore-based Top2 PTE, Silver Touch Technologies shares added 4.5% on project win from Airports Authority of India, Oracle Financial Services Software shares rose over 10% on parent Oracle's stellar rally after $0.5 trillion cloud business outlook
More than 100 stocks touched their 52-week highs on the BSE, including Indian Bank, HBL Engineering, Gujarat Mineral, Maharashtra Scooters, Cummins India, Eicher Motors, JSW Steel, Manappuram Finance, Bosch, Muthoot Finance, Maruti Suzuki, among others. Click to View More
Outlook for September 11
Rupak De, Senior Technical Analyst at LKP Securities
Nifty gained more than 100 points to close at 24,979, extending its recovery as the index held above the 21EMA. RSI has given a bullish crossover above 50, supporting the positive momentum.
Going ahead, sustaining above 24,820–24,750 may lead the index towards 25,160 and higher levels, while support remains at 24,820–24,750.
Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the market continued its positive momentum. The Nifty ends 105 points higher, while the Sensex was up by 324 points. Among sectors, IT, Defense, and PSU Bank indices rallied over 2 percent, whereas the Auto index lost the most, shedding over 1.30 percent.
Technically, the market opened with a gap up, but once again, it witnessed selling pressure at higher levels. However, the short-term outlook of the market remains positive. Additionally, after a long time, Nifty succeeded in closing above the 50-day SMA (Simple Moving Average), which is largely a positive sign.
We are of the view that the 50-day SMA/24920/81200 and the 24,800/81000 level will act as key support zones for traders. As long as the market trades above these levels, the bullish sentiment is likely to continue. On the higher side, the index could move up to 25,100–25,200/81700-82000. On the flip side, if the market falls below 24,800/81000, traders may consider exiting their long positions.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
