Did the Sensex Rise by 70 Points Today?
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Synopsis
On September 8, the Indian equity indices showed a slight uptick, driven by strong buying in auto and metal sectors. Despite initial gains, a late-session sell-off revealed cautious investor sentiment. What does this mean for the market? Discover the key highlights and trends shaping today's trading session.
Key Takeaways
- Sensex closed at 80,787.30, gaining 76.54 points.
- Nifty settled at 24,773.15, up by 32.15 points.
- Strong buying was noted in auto and metal stocks.
- Late-session sell-off reflected investor caution.
- Global sentiment improved post US jobs data.
Mumbai, Sep 8 (NationPress) The Indian equity indices concluded the trading session with a modest gain on Monday, driven by buying interest in auto and metal stocks. The domestic indices experienced a strong start during early trading, propelled by the announcement of GST reforms, optimism surrounding the improving India-US relations, and the recent rate cuts introduced by leading Indian automakers.
Nonetheless, the indices surrendered a significant portion of their earlier gains during the final hours of trading, primarily due to a sell-off in IT heavyweights and profit-taking activities.
The Sensex wrapped up at 80,787.30, marking an increase of 76.54 points or 0.09 percent. The 30-share index opened the day with a notable gap-up at 80,904.40 compared to the previous day’s close of 80,710.76, thanks to the GST rationalization and positive momentum in auto and metal stocks. The index surged approximately 400 points, reaching an intraday peak of 81,171.38.
The Nifty concluded the session at 24,773.15, gaining 32.15 points or 0.13 percent.
“The domestic market could not maintain its initial gains as a late-session sell-off illustrated the prevailing 'buy-on-dips, sell-on-rallies' strategy, indicating investor caution,” stated Vinod Nair, Head of Research at Geojit Investments Limited.
Auto and ancillary stocks continued their upward trajectory on anticipations of recovering demand following the GST rate adjustments, while the IT sector remained sluggish amid global uncertainties. On the international front, sentiment improved after disappointing US job data raised expectations for a potential Fed rate cut in September, Nair remarked.
Leading gainers from the Sensex included Tata Motors, Mahindra and Mahindra, Adani Airports, Bajaj FinServ, Ultratech Cement, Tata Steel, HDFC Bank, and BEL. Conversely, Trent, Asian Paints, HCL Tech, Tech Mahindra, PowerGrid, TCS, Sun Pharma, L&T, NTPC, and Bharti Airtel closed lower.
The majority of sector indices finished in positive territory. Nifty Auto surged by 868.60 points or 3.30 percent, Nifty Fin Services rose by 53 points or 0.21 percent, and Nifty Bank increased by 72 points or 0.13 percent. Conversely, Nifty IT declined by 325 points or 0.94 percent amid ongoing selling pressure.
The broader indices followed suit as well. Nifty Small Cap 100 ended 29 points or 0.16 percent higher, Nifty Midcap 100 soared by 285 points or 0.50 percent, and Nifty 100 rose by 45 points or 0.18 percent.
Point of View
I believe that today's market fluctuations reflect a blend of optimism and caution among investors. The initial surge in the indices was promising, yet the late-session sell-off highlights a prevailing strategy of cautious investment. It is crucial for investors to stay informed and agile in this dynamic environment.
NationPress
08/09/2025
Frequently Asked Questions
What influenced the Sensex's rise today?
The Sensex's rise was primarily influenced by strong buying in auto and metal stocks, coupled with positive sentiments from GST reforms and improved relations between India and the US.
Why did the indices lose their gains in the last trading hours?
The indices lost most of their gains due to a sell-off in IT heavyweights and profit booking by investors.
Which sectors performed well today?
The auto and ancillary sectors performed well, driven by expectations of demand recovery following GST rate cuts.
What was the closing figure for Nifty?
The Nifty closed the session at 24,773.15, an increase of 32.15 points or 0.13 percent.
What is the current sentiment in the global market?
The global sentiment improved following soft US jobs data, which raised hopes of a Fed rate cut in September.
