Closing Bell: Sensex settles 410 pts higher after choppy trade, Nifty above 24,700; Tata Steel jumps 6%, Hindalco 3%
Nifty 50 | Sensex Today | Stock Market LIVE Updates: Indian benchmark indices Sensex and Nifty ended higher on Wednesday, with banking and metal stocks leading gains, while investors awaited updates from a Goods and Services Tax (GST) Council meeting expected to weigh rate cuts on several products.
On the 30-stock Sensex, Tata Steel, Titan, Mahindra & Mahindra, ITC and Eternal were among the top performers, climbing between 1% and 6%. Tata Steel shares rose 6% and topped gains on both benchmarks.
The Nifty Metals index led sectoral gains, rising 3.1%, as analysts at CLSA said steel prices in India are poised to strengthen, supported by global trends and seasonal demand. CLSA cited the impact of China’s “anti-involution” policy, aimed at curbing steel output, as a tailwind for Indian producers.
Auto and consumer stocks each advanced roughly 0.7%, bolstered by expectations of consumption-supporting tax cuts at the ongoing GST Council meeting. The IT index was the only major laggard, falling 0.7% after U.S. manufacturing data showed a sixth consecutive month of contraction in August, raising concerns for Indian IT firms, which derive a significant portion of revenue from the U.S.
Broader markets also gained, with small-cap and mid-cap indices up 0.9% and 0.7%, respectively.
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Global Markets Updates
- S&P 500 futures rose 0.4% as of 6:37 a.m. New York time
- Nasdaq 100 futures rose 0.7%
- Futures on the Dow Jones Industrial Average were little changed
- The Stoxx Europe 600 rose 0.8%
- The MSCI World Index was little changed
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Spot gold rose 0.4% to $3,547.27 per ounce at 1132 GMT, after touching a lifetime peak of $3,549.53 earlier in the day. U.S. gold futures for December delivery advanced 0.6% to $3,613.30.
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Indian equities closed higher after a mixed start to the session, buoyed by expectations of a consumption-led stimulus from the potential GST slab rationalization. All categories of consumer-based sectors, like discretionary, durable and staples, continued to outperform. In the near term, market sentiment hinges on the outcome of the GST Council meeting with traction on consumption-oriented stocks and sectors. Well, the expectations are very high, increasing the risk of disappointments, which can kickstart consolidation again.
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Closing Bell: Sensex heatmap
Closing Bell: Top gainers and losers in today's trade
Closing Bell: BSE market statistics
Closing Bell: Nifty above 24,700
Closing Bell: Sensex settles 410 pts higher after choppy trade
Commodities Market Updates | Zinc futures remain flat on subdued demand
- Zinc prices on Wednesday were flat at Rs 274.75 per kilogram in futures trade as traders kept to the sidelines.
- On the Multi Commodity Exchange, zinc contracts for September delivery traded unchanged at Rs 274.75 per kg in a business turnover 1,689 lots.
- Marketmen said subdued demand from consuming industries kept zinc prices steady in the futures trade.
Commodities Market Updates | Copper futures decline on weak demand
- Copper futures on Wednesday fell Rs 3.70 to Rs 903.50 per kilogram as participants reduced their positions amid muted demand in the domestic market.
- On the Multi Commodity Exchange, copper futures for September contract eased by Rs 3.70 or 0.41 per cent to Rs 903.50 per kilogram in a business turnover of 6,811 lots.
- Analysts attributed the decline in copper prices to lower bets by participants.
Commodities Market Updates | Aluminium futures fall on low demand
- Aluminium prices on Wednesday declined 90 paise to Rs 254.60 per kilogram in the futures trade as participants trimmed their positions on a weak trend in the spot market.
- On the Multi Commodity Exchange, aluminium for delivery in September fell 90 paise or 0.35 per cent to Rs 254.60 per kg in 4,019 lots.
- Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
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Sensex Today | Tata Steel and other metal stocks rally up to 5% on China capacity curbs, policy support
- Indian metal stocks rallied, with Tata Steel up nearly 6% and peers like Jindal Steel, SAIL, and JSW Steel gaining 3–5%.
- Nifty Metal index jumped 2.5%, the best-performing sectoral index of the day.
- Analysts see support from China’s production curbs, seasonal recovery, and rupee-dollar trends.
- India’s extended safeguard duty provides 9% price protection for domestic steelmakers.
Sensex Today | Stock Market LIVE Updates: Nifty metal stocks trading in green
Sensex Today | Rs 1445 crore profit! Facebook's early investor to make 2600% return in India IPO next week
- Accel India, holding a 9.9% stake in Urban Company, will see 2630% returns from the Rs 1,900 crore IPO.
- It will partially cash out Rs 390 crore, while other VCs like Bessemer, Elevation, and Tiger Global also trim stakes.
- Urban Company posted Rs 240 crore profit in FY25, reversing prior losses.
- The IPO opens September 10, offering exposure to India’s $59 billion home services market.
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- JM Financial revised its model portfolio, turning bullish on consumption sectors like autos, consumer, cement, internet, hotels, and real estate.
- It cut exposure to banks, NBFCs, insurance, infrastructure, defence, ports, industrials, power, and utilities.
- Fiscal concerns from GST and income tax cuts may restrict infra capex.
- Weak loan growth, rising credit costs, and asset quality risks weigh on financials.
Stock Market LIVE Updates | European shares recover as bond selloff stabilizes ahead of US data
- European shares rebounded, with STOXX 600 up 0.4% to 545.35, led by tech gains.
- Adidas rose 2.5% after Jefferies upgraded the stock to “buy.”
- Bond market pressure eased, though German and French yields stayed at multi-year highs.
- Investors await ECB President Lagarde’s comments and U.S. job openings data.
Stock Market LIVE Updates | Japanese shares at near four-week low, banks drag on fading BOJ early rate-hike bets
- Japanese shares hit a near four-week low as bank stocks dragged markets after BOJ comments cooled early rate hike expectations.
- Nikkei fell 0.88% to 41,938.89 and Topix lost 1.07% to 3,048.89.
- Bank index dropped 3.19%, with major lenders losing over 3%; insurers also slipped.
- SoftBank fell 5.27% and Tokyo Electron 1.92%, while Fast Retailing rose 0.5%.
Sensex Today | Radhika Gupta alerts investors against fake profiles impersonating her, claiming to offer stock or crypto tips
- Edelweiss MF CEO flagged fake profiles impersonating her on X, Instagram, Facebook, and WhatsApp, misleading people with stock tips and crypto claims.
- Gupta clarified she doesn’t give investment advice and all her real accounts are verified.
- She urged users to stay cautious and report suspicious accounts.
- Separately, Gupta highlighted how consistent SIPs can build wealth over time, calling it the "aam crorepati ki kahaani."
Stock Market LIVE Updates: Chinese stocks dip as defence shares lead post-parade correction
- Chinese stocks posted their biggest drop in a week on Wednesday, led by a retreat in the defense sector as investors booked profits following the military parade.
- At the close, the Shanghai Composite index was down 1.2% at 3,813.56, its biggest single-day loss since August 27.
- The blue-chip CSI300 index declined 0.7% after touching a fresh 3-1/2-year high in the previous session.
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Commodities Market Updates | Iron ore extends gain as Goldman Sachs lifts fourth-quarter price forecast
- Prices of iron ore futures climbed for a second straight session on Wednesday, as Goldman Sachs raised its average price forecast for the fourth quarter of this year to $95 a metric ton from $90 a ton previously.
- The most-traded January iron ore contract on China's Dalian Commodity Exchange (DCE) closed daytime trade 0.71% higher at 777 yuan ($108.63) a ton.
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Bonds Market Updates | Japan 30-year bond yields hit record high
- The yield on 30-year bonds reached 3.290 percent, the highest on record. The yield also rose on Japanese debt of other maturities.
- Japan has one of the highest ratios of debt to gross domestic product (GDP) of advanced economies.
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Stock Market LIVE Updates: Australian stocks fall most in five months as strong growth data dims rate-cut hopes
- Australian shares posted their worst session in nearly five months on Wednesday, as stronger-than-expected economic growth data dimmed expectations for further interest rate cuts.
- The S&P/ASX 200 dropped 1.8% to 8,738.8 in its biggest fall since early April. The benchmark has declined more than 2.5% in the past four sessions of falls.
- Data showed the Australian economy grew 0.6% in the second quarter, topping forecasts of a 0.5% gain and lifting the annual growth to its fastest pace in nearly two years.
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Bonds Market Updates | India bonds rise on hopes of support from authorities
The benchmark 10-year bond yield was at 6.5551% as of 10:10 a.m. IST, after ending at 6.5658% on Tuesday.
The one-year OIS rate was little changed at 6.54%, while the two-year OIS rate had not traded yet. The five-year OIS rate was at 5.80%.
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Commodities Market Updates | Gold prices extend record run on strong safe-haven inflows
- Gold prices extended their record run on Wednesday, as persistent market uncertainty and growing investor confidence that the U.S. Federal Reserve will cut interest rates this month lifted demand for the safe-haven metal.
- Spot gold was up 0.1% at $3,537.76 per ounce, as of 0448 GMT, after hitting an all-time of $3,546.99 earlier in the session.