The ongoing spell of losses in the Indian stock market came to a halt on September 3 as major benchmark indices made a strong recovery. Supported by positive global cues and robust buying interest in banking and realty stocks, the equity market started the trading session on a firm note. As trading commenced, the National Stock Exchange benchmark Nifty 50 crossed the key psychological threshold of 24,000 once again, restoring confidence among market participants and signaling a widespread buying trend across sectors.
Sensex and Nifty Advance in Early Trade
During the trading session, the 30-share BSE Sensex advanced by nearly 300 points to trade around the 76,869 level. Simultaneously, the NSE Nifty 50 index gained 105.50 points to hover near the 24,037 mark. Overall market sentiment remained overwhelmingly positive throughout the morning hours. Out of the total traded stocks, approximately 2,067 shares recorded gains, while 789 shares traded lower in the red zone. Additionally, 155 stocks remained unchanged, reflecting no price variation during the session.
Adani Ports and Banking Heavyweights Lead Gains
Adani Ports emerged as the top gainer in the index during the trading session, rising by +1.51 percent. Heavyweights from the banking and power sectors also provided substantial support to the broader market momentum. Among the major gainers, ICICI Bank climbed +1.37 percent, while Axis Bank surged +1.08 percent in morning trade.
State Bank of India (SBIN) registered a growth of +1.08 percent. Furthermore, Power Grid rose +1.05 percent, HDFC Life advanced +0.91 percent, Adani Enterprises gained +0.84 percent, and HDFC Bank traded higher by +0.70 percent. These positive movements across banking and financial counters helped sustain the market rally.
Selling Pressure Visible in IT and Auto Counters
Despite the broader market optimism, information technology and automotive stocks experienced noticeable selling pressure. Aviation company IndiGo traded as one of the major losers, declining by -1.02 percent. In the IT basket, Tech Mahindra fell by -0.94 percent, HCL Tech slipped by -0.86 percent, and Tata Consultancy Services (TCS) dropped by -0.63 percent. Infosys was also trading in the red, down by -0.59 percent.
Weakness was also evident across auto and consumer goods shares. Eicher Motors fell by -0.83 percent, while FMCG major Nestle India recorded a decline of -0.64 percent. Shares of two-wheeler maker Bajaj Auto and pharmaceutical firm Cipla also faced downward pressure and continued to trade in negative territory.
Sectoral Indices Trend Mixed
A sector wise analysis highlights strong performances in the banking and real estate segments. The Nifty PSU Bank index led the sectoral advance with a gain of +0.93 percent, closely followed by the Nifty Realty index, which rose by +0.91 percent. The broader Nifty Bank index also posted a solid gain of +0.72 percent. Energy and infrastructure sector indices also maintained their position in green territory.
Conversely, the IT segment faced persistent profit booking, causing the Nifty IT index to contract by -0.90 percent. The FMCG sector index registered a minor drop of -0.46 percent, while the pharmaceutical index edged lower by -0.07 percent during the session.
