Markets opened the week on a strong note, with the Sensex rising over 430 points and the Nifty reclaiming 24,850, as investors looked ahead to key inflation readings from the U.S. and India.
The Sensex was up 430+ points, trading near 81,150, while the Nifty 50 climbed over 100 points, crossing the 24,850 mark.
Key Highlights
What’s moving the market?
- U.S. stock futures rose early Monday as Wall Street braces for critical inflation data this week — the Producer Price Index (PPI) on Wednesday and the Consumer Price Index (CPI) on Thursday.
- Disappointing U.S. jobs data last Friday (only 22,000 new jobs vs. 75,000 expected) increased hopes of a Federal Reserve rate cut on September 17.
- Global cues remained optimistic, with Asian and European markets also trading higher.
Market Snapshot (as of 2:55 PM IST)
| Index | Value | Change (%) |
|---|---|---|
| Sensex | 81,150+ | +0.53% |
| Nifty 50 | 24,850+ | +0.44% |
| Bank Nifty | 54,334.60 | +0.41% |
| Nifty Midcap 100 | 57,459.25 | +0.67% |
| Nifty Smallcap 100 | 17,702.30 | +0.27% |
Sector Performance
Top Gainers
- Auto: Tata Motors, M&M, Bajaj Auto surged on vehicle price cuts and GST relief
- Metals: Tata Steel, SAIL, and JSW Steel rose after positive analyst upgrades
- PSU Banks: SBI and Canara Bank led gains in the public sector banking space
Laggards
- IT Sector: TCS, Tech Mahindra, and Infosys declined due to global macro headwinds
- FMCG and Realty: Saw mild profit-booking after recent gains
Key Stock Moves
| Stock | Change (%) | Reason |
|---|---|---|
| Tata Motors | +3.67% | Announced vehicle price cuts |
| JSW Steel | +2.67% | Improved domestic demand outlook |
| Vedanta | +5.00% | Won bid for JP Associates |
| Prime Focus | +10.00% | Insider buying by prominent investors |
Global Market Overview
- U.S. Futures
- Nasdaq: +0.35%
- S&P 500: +0.23%
- Dow: +0.21%
- Asia-Pacific Markets
- Nikkei: +1.45%
- Shanghai Composite: +0.38%
- Hang Seng: +0.85%
- Europe
- Markets opened higher despite political uncertainty in France
Commodities and Bonds
- Gold: $3,648 per ounce, slightly down
- WTI Crude: $62.78 per barrel, trending higher
- U.S. 10-Year Treasury Yield: 4.08%, slightly lower
Analyst Insight
“All eyes are on this week’s CPI and PPI data. If inflation cools further, expect the Fed to not only cut rates but signal more cuts ahead — and that could fuel the next leg of this rally,” said Chen Zhao, Head of Economics at Redfin.
What to Watch This Week
- Sept 10: U.S. PPI release
- Sept 11: U.S. CPI release
- Sept 17: Federal Reserve interest rate decision
- U.S. earnings: Adobe, Chewy, Synopsys