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Informist, Monday, Sept. 8, 2025

 

By Gopika Balasubramanium 

 

MUMBAI – The benchmark Nifty 50 index extended gains for the fourth straight session Monday as the restructuring of the goods and services tax announced by the government last week continued to boost market sentiment. The index came off the day's highs as information technology stocks came under selling pressure. However, sharp gains in automobile stocks prevented it from closing in the red.

 

The Nifty 50 closed at 24773.15 points, up 32.15 points or 0.1%. The 50-stock index faced strong resistance at 24800-24850 points. Monday's close below 24800 points indicates that it remains a huge hurdle for the index. Once the Nifty 50 overcomes this hurdle, analysts see 25000 points as the next target. The BSE Sensex, the other benchmark index, closed at 80787.30 points, up 76.54 points or 0.1%. It had closed marginally lower Friday.

 

Non-farm payrolls data showed the US economy created 22,000 jobs in August, sharply lower than the 75,000 jobs expected and from 79,000 jobs added in July. The US Federal Reserve is now widely expected to cut the federal funds rate next week. Though the US indices had closed lower Friday, global indices were mostly higher Monday, including in India.

 

Hopes of an interest rate cut by the US Federal Reserve surged after Fed Chair Jerome Powell's dovish comments on Aug. 22 at the Jackson Hole symposium. "...with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," Powell said in his speech. The probability of a 25-basis-point interest rate cut by the Fed, as measured by the CME FedWatch tool had risen to around 90?ter the speech, from 75?rlier. Following the speech, IT sector analysts had said that with the increased probability of an interest rate cut in the US, corporations in the US were likely to try and absorb the impact of US tariffs on imports, consequently leading to continued limitation of their spending on technology.
 

Now, following the release of non-farm payrolls data last week, hopes of a 50-bps rate cut in the US are at nearly 10%, according to the FedWatch tool. Meanwhile, Indian IT stocks came under selling pressure Monday, with the Nifty IT sectoral index extending losses for the fifth straight session. Large-cap stocks such as Tech Mahindra, Tata Consultancy Services, and Infosys closed 0.8-1.1% lower. The IT sector has been under pressure since rumours of a second phase of tariffs by the Trump administration surfaced last week.

 

Investors continue to cheer automobile companies, as they are expected to see volumes rising after the government slashed GST across automobile categories. Following the announcement, most automobile companies announced price cuts, with Mahindra & Mahindra passing on the cut with immediate effect Saturday. Monday, the Nifty Auto ended at 27189.20 points, up 3.3%. The sectoral index closed higher for the fourth straight session, gaining over 6% in this period. The index is 1.8% away from its lifetime high of 27696.10 points, which it had hit Sept. 24. M&M, Maruti Suzuki India, and Eicher Motors hit new record highs during Monday's session. Global brokerage BofA raised its target price Monday for most Indian original equipment manufacturers by 7-28%.

 

Among individual stocks, TBO Tek came off the day's high and closed at INR 1,578.30, up 2.4%. During the session, it had surged over 9% to INR 1,687, its highest level since January, after global brokerage Jefferies raised its target price on the stock by 11%. Apollo Tyres shed all intraday gains and closed 0.6% lower at INR 480. The stock had risen at least 1% following an Informist report that the Andhra Pradesh government had approved the INR 11-billion third phase of the company's expansion plan for its plant in Chittoor. HFCL closed 1.6% higher at INR 70.97. The stock had risen nearly 3?ter Informist reported that the Andhra Pradesh government has approved allotment of 1,000 acres of land to the company to set up a defence manufacturing unit.

 

* Of the Nifty 50 stocks, 23 rose and 27 fell 

* Of the Sensex stocks, 13 rose and 17 fell

* On the NSE, 1,750 stocks rose, 1,284 fell, and 111 were unchanged

* On the BSE, 2,199 stocks rose, 2,048 fell, and 160 were unchanged

* Nifty Auto: up 3.3%; Nifty PSU Bank: up 0.5%; Nifty IT: down 0.9%

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BSE                                              NSE

Sensex: 80787.30, up 76.54 points or 0.5%        Nifty 50: 24773.15, up 32.15 points or 0.1%

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S&P BSE Sensitive Index	Nifty 50
Lifetime High: 85978.25 (Sept. 27, 2024)	: Lifetime High: 26277.35 (Sept. 27, 2024)
Record Close High: 85836.12 (Sept. 26, 2024)	: Record Close High: 26216.05 (Sept. 26, 2024)
2025 1st day close: 78507.41 (Jan. 1)	: 2025 1st day close: 23742.90 (Jan. 1)
2025 Closing High: 84058.90 (Jun. 27)	: 2025 Closing High: 25637.80 (Jun. 27)
2025 Closing Low: 72989.93 (Mar. 4)	: 2025 Closing Low: 22082.65 (Mar. 4)
2025 High (intraday): 84099.53 (Jun. 30)	: 2025 High (intraday): 25669.35 (Jun. 30)
2025 Low (intraday): 71425.01 (Apr. 7)	: 2025 Low (intraday): 21743.65 (Apr. 7)
2024 1st day close: 72271.94 (Jan. 1)	: 2024 1st day close: 21741.90 (Jan. 1)
2024 Closing High: 85836.12 (Sept. 26)	: 2024 Closing High: 26216.05 (Sept. 26)
2024 Closing Low: 70370.55 (Jan. 23)	: 2024 Closing Low: 21238.80 (Jan. 23)
2024 High (intraday): 85978.25 (Sep. 27)	: 2024 High (intraday): 26277.35 (Sept. 27)
2024 Low (intraday): 70001.60 (Jan. 24)	: 2024 Low (intraday): 21137.20 (Jan. 24)
2023 1st day close: 61167.79 (Jan. 2)	: 2023 1st day close: 18197.45 (Jan. 2)
2023 Closing High: 72410.38 (Dec. 28)	: 2023 Closing High: 21778.70 (Dec. 28)
2023 Closing Low: 59288.35 (Feb. 27)	: 2023 Closing Low: 17311.80 (Oct. 17)
2023 High (intraday): 72484.34 (Dec. 28)	: 2023 High (intraday): 21801.45 (Dec. 28)
2023 Low (intraday): 58699.20 (Jan. 30)	: 2023 Low (intraday): 17098.55 (Jan. 17)
2022 1st day close: 59183.22 (Jan. 3)	: 2022 1st day close: 17625.70 (Jan. 3)
2022 Closing High: 63284.19 (Dec. 1)	: 2022 Closing High: 18812.50 (Dec. 1)
2022 Closing Low: 51360.42 (Jun. 17)	: 2022 Closing Low: 15293.50 (Jun. 17)
2022 High (intraday): 63583.07 (Dec. 1)	: 2022 High (intraday): 18887.60 (Dec. 1)
2022 Low (intraday): 50921.22 (Jun. 17)	: 2022 Low (intraday): 15183.40 (Jun. 17)
2021 Closing High: 61305.95 (Oct. 14)	: 2021 Closing High: 18338.55 (Oct. 14)
2021 Closing Low: 46285.77 (Jan. 29)	: 2021 Closing Low: 13634.60 (Jan. 29)
2021 High (intraday): 61353.25 (Oct. 14)	: 2021 High (intraday): 18350.75 (Oct. 14)
2021 Low (intraday): 46160.46 (Jan. 29)	: 2021 Low (intraday): 13596.75 (Jan. 29)
2020 Closing High: 47751.33 (Dec. 31)	: 2020 Closing High: 13981.95 (Dec. 30)
2020 Closing Low: 25981.24 (Mar. 23)	: 2020 Closing Low: 7610.25 (Mar. 23)
2020 High (intraday): 47896.97 (Dec. 31)	: 2020 High (intraday): 14024.85 (Dec. 31)
2020 Low (intraday): 25638.90 (Mar. 24)	: 2020 Low (intraday): 7511.10 (Mar. 24)
2019 High (intraday): 41809.96 (Dec. 20)	: 2019 High (intraday): 12293.90 (Dec. 20)
2019 Low (intraday): 35287.16 (Feb. 19)	: 2019 Low (intraday): 10583.65 (Jan. 29)
2018 High (intraday): 38938.91(Aug. 28))	: 2018 High(intraday): 11760.20 (Aug. 28)
2018 Low (intraday): 32483.8 (Mar. 23)	: 2018 Low (intraday): 9951.9 (Mar. 23)
2017 High (intraday): 34005.37 (Dec. 26)	: 2017 High(intraday): 10515.10 (Dec. 26)

 

End

 

Edited by Rajeev Pai

 

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