India’s equity benchmarks closed on a strong note. Optimism around renewed India‑US trade talks and expectations of a US Federal Reserve rate cut lifted risk appetite. Public‑sector banks and IT stocks outperformed, while the auto index saw profit‑booking after a rally driven by GST cuts on vehicles. Mid‑cap and small‑cap shares continued to attract interest, reflecting broad participation.
Key indices at the close
| Index | 10 Sep 2025 close | Change (pts / %) |
|---|---|---|
| Nifty 50 | 24,973.10 | +104.5 pts (+0.42 %) |
| BSE Sensex | 81,425.15 | +323.83 pts (+0.40 %) |
| Nifty Bank | 54,536.00 | +319.9 pts (+0.59 %) |
| Nifty IT | 36,183.80 | +927.9 pts (+2.63 %) |
| Nifty PSU Bank | 5,739.90 (approx) | ~+2.1 % |
| Nifty Auto | 20,289.00 (approx) | –1.3 % |
| BSE MidCap | 46,080 (approx) | +382 pts (+0.84 %) |
| BSE SmallCap | 53,406.26 | +380.68 pts (+0.72 %) |
The Nifty 50 and Sensex have risen for six and five of the last six sessions respectively.
Sectoral performance
- Information technology (+2.6 %) – Continued buying as hopes of an imminent Fed rate cut and revival in tech spending lifted sentiment. TCS, HCL Tech and Wipro all advanced.
- PSU banks (+2.1 %) – Stronger foreign fund inflows and expectations of improved credit growth boosted state‑run banks; SBI, Bank of Baroda and Canara Bank were among gainers.
- Realty (+1 %) – Supported by sustained demand outlook.
- Auto (–1.3 %) – Profit‑booking emerged after recent rallies linked to GST cuts on vehicles; M&M, Maruti Suzuki and Bajaj Auto declined.
- Media and FMCG were mixed, while energy stocks were stable.
Market breadth was positive; on the NSE roughly 2,169 stocks advanced, 1,558 declined and 114 were unchanged. FIIs were net buyers on 9 September (₹2,050 cr), and DIIs also bought (₹83 cr), lending support to the rally. The rupee closed nearly flat at ₹88.10 per dollar.
Top Nifty 50 gainers and losers
| Top gainers | % change | Top losers | % change |
|---|---|---|---|
| Bharat Electronics | +4.3 % | Mahindra & Mahindra | –2.5 % |
| Wipro | +2.7 % | Bajaj Auto | –1.5 % |
| HCL Technologies | +2.6 % | Maruti Suzuki | –1.7 % |
| Bajaj Finance | +2.2 % | Hero MotoCorp | –1.3 % |
| Tata Consultancy Services | +2.0 % | Tata Motors | –0.9 % |
What moved the market?
- India‑US trade optimism: Comments from US President Donald Trump that negotiations with India would continue and could soon deliver a deal improved risk sentiment and triggered buying in export‑oriented sectors, notably IT and textiles.
- Rate‑cut hopes: Traders speculated that the US Fed could lower rates at its upcoming meeting after softer US economic data. Lower US yields tend to benefit IT and other rate‑sensitive stocks.
- GDP upgrade: A global rating agency raised India’s FY26 growth forecast to around 6.9 %, highlighting strong domestic demand and reforms, which provided additional support.
- Strong FII inflows: Foreign investors turned net buyers after several sessions of selling, helping markets approach record highs.
- Profit‑taking in autos: Stocks that had rallied on GST cut announcements saw profit‑taking; the Nifty Auto index underperformed.
- Currency and commodity stability: The rupee traded in a narrow range and crude oil prices remained under control, reducing macro headwinds.
Global cues
- US markets: All three main US indices closed at record highs the previous night (Dow +0.43 %, S&P 500 +0.27 %, Nasdaq +0.37 %) on expectations of a Federal Reserve rate cut and upbeat corporate news (notably Oracle’s strong cloud outlook).
- Asian markets: The Nikkei 225 gained ~0.5 %; Kospi advanced 1.3 %; Hang Seng futures signalled a positive start. China’s CPI showed a modest decline (–0.4 % YoY) while PPI deflation narrowed, suggesting policy support may continue.
- Commodities and currencies: WTI crude rose about 1.5 % to $63.17 a barrel amid Middle‑East tensions; gold eased 0.28 %. The USD/INR hovered around ₹88.14. Traders watched upcoming US CPI data and the FOMC meeting for cues.
Stocks to watch & corporate updates
- Kotak Mahindra Bank: Sumitomo Mitsui Banking Corp is poised to exit its 1.65 % stake via block deals worth ~₹6,166 cr at a floor price of ₹1,880 per share. The sale could create supply pressure.
- Blue Jet Healthcare: Promoter Akshay Bansarilal Arora is offering up to 6.83 % stake (including a greenshoe) via offer‑for‑sale on 10‑11 Sept at ₹675 per share.
- Tata Motors: The automaker executed agreements to acquire a 26 % stake each in two SPVs of Tata Power Renewable Energy, reflecting a push toward renewable energy to cut power costs.
- Sun Pharma: The US FDA classified its Halol plant as “Official Action Indicated,” keeping it under import alert; this may weigh on the stock.
- Bajaj Auto: The company announced it would pass through the entire GST reduction on two‑wheelers and three‑wheelers to customers from 22 Sept, cutting prices by up to ₹20,000 (two‑wheelers) and ₹24,000 (three‑wheelers).
- Samvardhana Motherson: Completed acquisition of the remaining 25 % stake in two Turkish subsidiaries, enabling full ownership.
- Sterling & Wilson Renewable: Received a letter of intent for a ₹415 cr BOS EPC package for a 300 MW solar PV project in Rajasthan.
- Mamata Machinery: Secured a third consecutive order for a nine‑layer blown‑film plant valued at $1.17 million from a UAE customer, with commissioning slated for Q4 FY26.
- Vikram Solar: Reported a 484 % year‑on‑year jump in Q1 net profit (₹133.4 cr) and a nearly 80 % revenue increase, improving margins.
Other stocks to watch include Vodafone Idea (seeking Supreme Court reassessment of AGR dues), ICICI Prudential (board meeting on 12 Sept to raise funds via NCDs), HEG (associate acquires hydropower assets), Eicher Motors (passing on GST cut), and Thermax (invests ₹115 cr in subsidiary for renewable expansion).
Technical view & tomorrow’s outlook (11 Sep 2025)
- Nifty 50: The index formed a bullish candle and remains above its 21‑day exponential moving average (24,820). Momentum indicators such as RSI crossed above 50, supporting a positive bias. Immediate support lies at 24,820–24,750. Sustaining above this zone could open the way to 25,160 and possibly higher; a decisive close above the psychological 25,000 would confirm a fresh up‑move. Failure to hold 24,750 may trigger profit‑booking toward 24,600.
- Sensex: Key support is at 80,900–80,750. Resistance lies at 81,500; a breakout could extend gains toward 81,800–82,000.
- Bank Nifty: The index remains in a descending channel with support around 53,560–53,600 (200‑day EMA). Resistance is at 54,500; stronger resistance lies at 54,800–55,000. A sustained move above 54,500 could spur a rally toward 54,900–55,000.
- Expected tone: GIFT Nifty futures indicate a mildly positive start. The market’s short‑term trend remains bullish but is near major resistance; traders may adopt a buy‑on‑dips strategy as long as Nifty holds above 24,820. Investors should monitor US inflation data, crude oil prices, rupee movement and any progress in India‑US trade talks. Profit‑booking may emerge at higher levels ahead of key global events, so volatility could increase.
Outlook
- Tone: Cautious optimism; momentum remains positive with indices near new highs, but watch for consolidation around the 25,000 mark.
- Technical levels to watch: Nifty support 24,820–24,750 and resistance 25,000–25,160. Bank Nifty support 53,560–53,600 and resistance 54,500–55,000.
- Key catalysts: US CPI report, Fed meeting (16–17 Sept), India‑US trade developments, corporate earnings announcements and oil price movements.
In summary, India’s markets continued their rally on 10 September 2025, driven by positive global sentiment and hopes of a breakthrough in trade talks with the US. Sector rotation favoured IT and PSU banks, while autos lagged. Looking ahead, traders should remain attentive to global macro events and maintain a nimble approach as indices hover near crucial resistance zones.
