Where is the market headed?
The Indian stock market had a surprisingly positive session on September 3rd, closing higher despite global worries about tariffs and trade restrictions from the US. The Nifty gained 0.5%, while midcaps, small caps, and the Nifty Bank also showed strength.
There is ongoing uncertainty about US tariffs, especially on services. Analysts believe the final outcome may come by mid to late October when the US Supreme Court takes up the matter. Until then, existing tariffs remain in force. Markets seem to be pricing in some relief, and an interest rate cut expected in mid-September is also adding optimism.
Market Overview
The Nifty held strong support near 24,400, a level tested several times in recent weeks.
Nifty Next 50
Nifty Junior rose 0.66%
Nifty Mid and Small Cap
Midcaps gained 0.67%. Small caps surged 0.84%
Bank Nifty
Nifty Bank added 0.76%, holding a steady range.
GOLD
One of the biggest headlines of the day was gold’s massive rally. Prices shot up to ₹10,604 per gram in INR terms and $3,540 per ounce in US dollar terms, breaking the critical $3,500 resistance. The trend now points towards $3,700–$4,000 by the end of the year. Gold is clearly the asset to watch going into November–December.
Advance Decline Ratio
Heat Maps
In stocks, Tata Motors, Mahindra, Dr. Reddy, Cipla, Kotak Bank, HDFC, and ICICI Bank all saw losses. Reliance was strong in the first half but closed up just 0.9%. Power stocks like NTPC and Power Grid did well. FMCG stocks such as Dabur, Nestle, and Colgate also supported the market.
Mover Of The Day
Tata Steel jumped nearly 6%.
Ola stock surged another 11%, climbing from ₹40 to ₹70 in less than three weeks.
Sectoral Overview
Metals led the rally, with the index near multi-month highs. Other gainers included HDFC Bank, Mahindra & Mahindra, Titan, JSW Steel, and Coal India. The only weak spot was IT stocks (-0.74%), as fears linger that services may be hit by tariffs.
Sector of the Day
Nifty Metal Index
Tweets Of the Day
Zomato increased its platform fee from ₹10 to ₹12 – a 20% hike that could boost revenues and support stock strength.
In a key development, SEBI announced regulation of pre-listing trades in IPO-bound firms. This move will bring transparency and safety for investors by ending unregulated gray market deals. Such regulation is expected to add liquidity and trust in the IPO process.
