Indian stock market benchmarks bounced back on September 1, ending a three-session losing run with gains across sectors. The Sensex rose by 555 points, or 0.70%, to settle at 80,364.49, while the Nifty 50 advanced 198 points, or 0.81%, closing at 24,625.05.
Mid and small-cap stocks outperformed the frontline indices. The BSE Midcap index gained 1.64%, and the Smallcap index was up 1.49%.
The rebound added more than ₹5 lakh crore to investors’ wealth in a single session. The total market capitalisation of companies listed on the BSE climbed close to ₹449 lakh crore, compared with just under ₹444 lakh crore in the previous session.
Sentiment picked up after India’s Q1 GDP growth figure came in higher than expected. Hopes of GST rationalisation at the upcoming council meeting are also keeping investors optimistic.
Among Nifty 50 constituents, Bajaj Auto surged 4.01%, Mahindra & Mahindra gained 3.52%, and Hero MotoCorp climbed 3.18%. In all, 42 of the 50 index stocks ended higher. Sun Pharma slipped 1.91%, ITC fell 1.03%, and Hindustan Unilever eased 0.56%, emerging as the top drags.
Barring Nifty Media, down 0.32%, and Pharma, down 0.12%, all major sectoral indices ended in positive territory. Nifty Auto (up 2.80%) and Consumer Durables (up 2.08%) were the standout performers. Nifty Metal gained 1.64%, IT added 1.59%, Oil & Gas climbed 1.35%, PSU Bank rose 1.11%, and Realty was up 1.04%. Nifty Bank edged up 0.65%, while the Financial Services index added 0.69%.
Out of 4,380 stocks traded on the BSE, 2,795 advanced, 1,391 declined, and 194 remained unchanged. As many as 129 stocks, including TVS Motor Company, Eicher Motors, and UNO Minda, touched their 52-week highs in intraday trade. Meanwhile, 113 counters such as United Breweries, Five-Star Business Finance, and Deepak Nitrite hit fresh 52-week lows.
{By arrangement with Livemint.com}
