Indian equity benchmarks kicked off the final trading session of the week on Friday, September 4, with robust momentum. Amid the festive mood of Janmashtami, trading commenced with a strong surge across major indices. Within the opening hours of the session, the Bombay Stock Exchange Sensex soared by nearly 500 points, while the National Stock Exchange Nifty successfully climbed past the 23,900 threshold. This upbeat market sentiment was heavily anchored by aggressive buying interest in technology stocks, which provided significant traction to the broader market.
Sensex Rises by Nearly 500 Points
At the opening bell, the Sensex advanced 510.79 points to reach the 76,663.65 level. Concurrently, the Nifty gained 47.70 points to trade at 23,921.15. Market breadth strongly favored the buyers, with approximately 1,561 stocks trading in positive territory. In contrast, 741 stocks faced selling pressure, while around 150 stocks remained unchanged from their previous closes, highlighting an overall bullish start to the day's trade.
IT Sector Shines and Drives the Rally
Information technology emerged as the standout performer of the session, witnessing robust capital inflows from investors. Data indicates that the Nifty IT index climbed by roughly 1.06 percent. Among major gainers, TCS advanced 1.44 percent, Wipro gained 1.47 percent, Tech Mahindra rose 1.44 percent, and Infosys traded higher by 1.25 percent. Trent also posted gains of about 0.72 percent. Heavyweights such as Reliance Industries, HDFC Life, HDFC Bank, and Kotak Mahindra Bank also traded in the green, supporting the upward trajectory.
Stocks That Faced Downward Pressure
While technology counters and select financial stocks sustained the broader market, several prominent equities slipped into the red. Eicher Motors declined by approximately 0.94 percent, Grasim dropped 0.97 percent, and Nestle India shed 0.56 percent. Additional losses were recorded by Titan, Maruti Suzuki, Adani Ports, ONGC, and Coal India, reflecting localized weakness in certain heavyweight segments.
Realty and Infrastructure Sectors Offer Support
Analyzing sectoral performance, the Nifty Realty index rose about 0.51 percent, and the Nifty Infra index gained 0.13 percent. The Nifty Bank index edged up by 0.08 percent, while the PSU Bank index showed a minor gain of 0.02 percent. Conversely, indices representing energy, FMCG, MNCs, and pharmaceuticals traded in negative territory. Meanwhile, market participants continue to track developments surrounding the India-US trade agreement.
