Market Wrap Sept 5: SENSEX ends marginally lower, NIFTY50 at 24,741; auto stocks rally, Eicher Motors, M&M top gainers

The Indian stock market ended flat on Friday, September 5, after a volatile session, with auto and metal stocks leading the gains while FMCG and IT weighed on sentiment.

With Friday’s close, main benchmark equity indices posted weekly gains, with the SENSEX and NIFTY50 up nearly 1% each. Meanwhile, the Nifty Midcap 100 and Nifty Smallcap 100 outperformed, rallying 2.4% during the week.

The weekly gains can be attributed to the government’s GST reforms, which were announced on September 3.

According to exchange data, on Thursday, the foreign institutional investors (FIIs) sold shares worth ₹106.34 crore, while the domestic institutional investors (DIIs) bought equities worth ₹2,233.09 crore on a net basis.

On the global front, all indices in Asia closed higher on Friday. Japan’s Nikkei 225 was one of the top performers after US President Donald Trump signed an executive order implementing a Washington-Tokyo trade deal. 

South Korea's KOSPI closed 0.13% up, while Hong Kong's Hang Seng settled higher by 1.45%. The Shanghai Composite surged 1.22%, while Japan’s Nikkei index ended 0.94% higher.

All the main indices on Wall Street ended with gains on Thursday, as labour market data did not change expectations for an interest rate cut by the Federal Reserve. Investors will be closely watching the key US monthly jobs report for further cues.

Meanwhile, the S&P 500 posted a closing record high on Thursday, closing at 6,502.08, rising 53.82 points, or 0.83%. The Dow Jones Industrial Average gained 350.06 points, or 0.77%, to 45,621.29, and the Nasdaq Composite also climbed 209.97 points, or 0.98%, to end at 21,707.69.

As many as 3,121 stocks traded on the NSE on Friday. Out of this, 1,644 advanced and 1,370 stocks declined, while 107 scrips remained unchanged.

This indicated that the market breadth was in favour of advances.

A total of 71 stocks hit their 52-week highs, while 49 stocks touched their one-year lows. Besides, 99 stocks hit their upper circuit limits, and 51 touched their lower circuit bands on Friday.

NSE-listed firms' market capitalisation stood at ₹448.18 lakh crore at the end of the session.

India VIX, the volatility gauge, stood at 10.78 levels, falling 0.66%.

On the NIFTY50 index, 28 stocks advanced while 22 declined on Friday.

Eicher Motors led the gainers with a 2.41% rise, followed by Mahindra & Mahindra (2.34%), Shriram Finance (1.68%), Maruti Suzuki (1.64%), and Dr Reddy’s (1.33%).

On the flip side, ITC (-1.92%), Cipla (-1.69%), HCL Technologies (-1.61%), TCS (-1.54%), and Tech Mahindra (-1.49%) were the top laggards.

The Nifty Smallcap 100 index rose 0.19% to end at the 17,655.2 level. Brainbees Solutions (13.54%), Godfrey Phillips India (5.79%) and BEML (3.47%) were the biggest contributors.

Gains in Vodafone Idea (9.68%), BSE Limited (4.66%), and Indus Tower (4%) led the Nifty Midcap 100 index to rise 0.20%, ending at 57,075.20 levels.

Nifty Auto took the lead among gaining sectors, surging 1.25%, followed by Nifty Metal (0.68%), Nifty Media (0.59%), Nifty Private Bank (0.20%) and Nifty PSU Bank (0.17%).

However, Nifty IT and FMCG slipped the most, declining 1.44% and 1.42%, respectively. Nifty Realty (-1.16%) and Nifty Consumer Durables (-0.01%) also settled lower on Friday.