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Informist, Wednesday, Sept. 3, 2025

By Gopika Balasubramanium

MUMBAI – India's headline equity indices closed higher on Wednesday, having surged during the last hour of trade. Investors bought shares of financial services and metal companies aggressively during the session and offloaded those of information technology companies. They will also track updates from GST Council's ongoing meeting, where the government tabled the rationalisation proposal. The Opposition states have consented to the Centre's overall intent to lower GST burden and to support the plan. However, they also said they would seek a mechanism to shield states from the loss in potential revenue that may result from the rate rejig mechanism.  

The Nifty 50 closed at 24715.05 points, up 135.45 points or 0.6%. The 50-stock index moved in a thin range betwen 24533.20 points and 24737.05 points throughout the session. Analysts see this benchmark index consolidating in the coming sessions and move between 24350 and 24750 points. The BSE Sensex closed Wednesday's session 0.5% higher at 80567.71 points, up 409.83 points or 0.5%. Broader market indices outperformed the headline indices for the second straight session so far this week. All mid- and small-cap indices closed 0.5-1.0% higher on Wednesday.

Metal stocks were in focus after China said it was set to reduce its steel capacity and production during 2025. Tata Steel, Hindalco Industries, and JSW Steel surged 3-6% on Wednesday and took Nifty Metal to a two-month high. The sectoral index closed at 9676.40 points, up over 3%, and was higher for the third straight session. Except for Jindal Stainless, all the other 14 Nifty Metal constituents ended the session higher. 

China will reduce its steel capacity by 50 million tonnes in 2025 and cut production by 8.5% for rest of the year, CNBC-TV18 said in a post on X citing global brokerage CLSA. The South Asian country decided this, although its steel production fell by 20 million tonnes over Jan-Jul. CLSA sees this move to positively impact the metal companies and said worst looks behind for the sector. The brokerage firm continues to prefer the non-ferrous metals, specifically aluminium, due to its tighter demand-supply balance. It relatively prefers Jindal Steel & Power, given its strong capacity addition-driven growth outlook. CLSA favours Hindalco Industries and Vedanta within the sector, NDTV profit reported.

On other hand, Nifty IT closed nearly 1% lower at 35474 points. All but HCL Technologies closed lower on Wednesday. Infosys, Coforge, and LTIMindtree fell over 1% each. Analysts shrugged off Wednesday's weakness in IT as a "normal" intraday movement and said these stocks were largely trading in a range for some time. Meanwhile, small-cap IT company Netweb Technologies surged nearly 12% after the company received order worth INR 17.34 billion to advance aritificial intelligence capabilities under the country's 'IndiaAI campaign.' 

Vikran Engineering and Anlon Healthcare made their debut on bourses on Wednesday. Vikran Engineering ended 1.3% lower at INR 95.71 on the NSE, after listing at INR 99, a 2% premium to issue price of INR 97. Anlon Healthcare closed nearly 1% higher at INR 91.73 on listing day. The stock listed at INR 92 on the NSE at just 1% premium to issue price of INR 91. 

* Of the Nifty 50 stocks, 36 rose and 14 fell 

* Of the Sensex stocks, 20 rose and 10 fell

* On the NSE, 2,088 stocks rose, 962 fell, and 88 were unchanged

* On the BSE, 2,624 stocks rose, 1,484 fell, and 169 were unchanged

* Nifty Metal: up 3.1%; Nifty Pharma: up 1.1%; Nifty IT: down 0.7%

BSE                                              NSE

Sensex: 80567.71, up 409.83 points or 0.5%       Nifty 50: 24715.05, up 135.45 points or 0.6%

End

Edited by Akul Nishant Akhoury

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