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Informist, Tuesday, Sept. 9, 2025

By Gopika Balasubramanium

MUMBAI – Investors continue to be bullish on Indian equities, with the Nifty 50 index closing higher for the fifth straight session Tuesday. However, both benchmark indices moved in a thin range through the day. Some automobile stocks snapped their multi-session rally which was driven by optimism about benefits from the restructuring of goods and services tax by the government. However, pharmaceutical and IT stocks gained Tuesday.

The Nifty 50 closed at 24868.60 points, up 95.45 points or 0.4%. The 50-stock index closed above 24800 points for the first time in 10 sessions. The rise was powered mainly by IT stocks. Index heavyweights such as Reliance Industries, ICICI Bank, and HDFC Bank ended flat or marginally down. So far this month, six Nifty 50 constituents--Maruti Suzuki India, Mahindra & Mahindra, Eicher Motors, JSW Steel, Eternal, and UltraTech Cement--have hit record highs.

Tuesday's session also marked the expiry of weekly derivative contracts of the 50-stock index. Traders bought the 24800-25100 call contracts, which suggests that the Nifty 50 may cross the 25000-point hurdle in the next few sessions. The highest addition of open interest on the call side remained at the 25000 strike, suggesting that gains are likely to be capped despite the buoyant sentiment.

The BSE Sensex closed at 81101.32 points, up 314.02 points or 0.4%. The broader market indices also ended higher after being in positive territory throughout the session. The small-cap indices fared better than the mid-cap ones, with the Nifty Smallcap 100 closing 0.3% higher. Among sectoral indices, those pertaining to realty and oil and gas closed slightly lower while those covering IT and pharmaceutical companies saw significant gains.

All the constituents of the Nifty IT index closed higher, with Infosys, which ended 5% up, leading the gains. The stock rose after the company said its board will consider a share buyback proposal Thursday. This would be the first buyback by Infosys in around three years. The Nifty IT closed at 35255.90 points, up 2.8%, after having fallen 4% over the past five sessions. Sentiment for the sector had turned negative amid rumours last week that the Donald Trump administration in the US was likely to levy tariffs on IT services.

Meanwhile, the Nifty Auto index came off its intraday low and closed flat at 27182.50 points. Ashok Leyland and TVS Motor Co. closed 1.6% and 0.7% lower, respectively. Tata Motors, Bajaj Auto, Hero MotoCorp, and M&M were also under selling pressure. Eicher Motors continued its winning run, closing higher for the seventh straight session. Maruti Suzuki was up for the third session in a row. These stocks drew investors' interest after the GST rejig on expectations of an uptick in volumes in the coming months. Treading the same path as Bank of America, Morgan Stanley also raised its target price for several automobile stocks by 11-76% Tuesday, as per a CNBC-TV18 report.

Among other stocks, Glenmark Pharmaceuticals closed 3% higher after the company said its step-down arm Ichnos Glenmark Innovation received $700 million as upfront payment from New York-based AbbVie as licensing fee for a cancer drug. Bikaji Foods International closed 2% lower after it said in an exchange filing that the Enforcement Directorate had summoned its Managing Director Deepak Agarwal under the Prevention of Money Laundering Act, 2002. However, it also clarified that the summons does not mention any violations by Bikaji Foods.

Amanta Healthcare made its debut on the bourses Tuesday. The stock ended at INR 141.75 on the NSE, after getting listed at a premium of 7% to its issue price of INR 126. About 4.3 million shares of the company changed hands during the session.

* Of the Nifty 50 stocks, 32 rose and 18 fell 

* Of the Sensex stocks, 19 rose and 11 fell

* On the NSE, 1,486 stocks rose, 1,514 fell, and 106 were unchanged

* On the BSE, 1,994 stocks rose, 2,130 fell, and 157 were unchanged

* Nifty IT: up 2.8%; Nifty Pharma: up 0.9%; Nifty Realty: down 0.3%

BSE                                              NSE

Sensex: 81101.32, up 314.02 points or 0.4%        Nifty 50: 24868.60, up 95.45 points or 0.4%

End

Edited by Rajeev Pai

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