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Market Update

Nifty : 24,973.10 +104.50 (+0.42%)

Sensex : 81,425.15 +323.83 (+0.40%)

* Equity benchmark Sensex rallied over 300 points, while Nifty closed just shy of the 25,000 mark, buoyed by optimism over potential progress in US-India trade talks. Market sentiment improved after President Donald Trump and Prime Minister Narendra Modi voiced confidence that negotiations on the India–US Bilateral Trade Agreement (BTA) could be concluded soon.

* Adding to the positive momentum, foreign institutional investors (FIIs) turned net buyers with inflows of over Rs.2,000 crore, alongside a global market rally and hopes of a US Fed rate cut next week. Nifty advanced 104 points or 0.4% to settle at 24,973, while the Sensex gained 323 points or 0.4% to close at 81,425.

* IT and defence stocks were the top performers, with both sectoral indices rising 3%. Textile companies also surged up to 10% after President Trump confirmed on Truth Social that trade deal negotiations with India are still progressing. Stocks such as Gokaldas Exports, Welspun Living, Pearl Global, Indo Count, Kitex Garments, Vardhman Textiles, and KPR Mill gained between 3–10%.

* IT shares extended their rally after Infosys announced plans to consider a share buyback on September 11. Sentiment was further strengthened as Oracle Finance issued a strong outlook for its cloud business, supported by robust AI infrastructure demand. Oracle Finance jumped 10% to close at Rs.9,264, while Infosys, Mphasis, Persistent Systems, and Coforge gained 1–5%.

* Defence counters also saw renewed buying interest. MTAR Tech rose 4% to Rs.1,471 after securing an order worth Rs.386 crore, while BEL, BDL, Zen Tech, and HAL advanced 2–5%.

Technical Outlook:

* Nifty index opened gap up by 120 points and crossed the psychological 25k marks. It moved in a consolidative band and held on to 24900 zones as a base. It maintained the early gains which mirrored strength and the index found wrestling for higher ground amidst global and domestic cues with strong technical underpinnings supporting buy on dips strategy.

* It formed a small bodied candle on daily frame and closed with gains of around 100 points. It has been making higher highs - higher lows from the last three sessions. Now it has hold above 24900 zones for an up move towards 25150 then 25250 zones while supports have shifted higher to 24850 and 24750 zones.

Derivative Outlook:

* Nifty future closed positive with gains of 0.52% at 25079 levels. Positive setup seen in Persistent, Coforge, Mphasis, KPIT Tech, Cyient, Bank Of India, BEL, CG Power, LTI Mindtree and Indian Bank while weakness in BSE, Dmart, Supreme Industries, Astral, Siemens, Crompton, Torrent Pharma, Pidilite Industries, Trent and Jubilant Foodworks.

* On option front, Maximum Call OI is at 25000 then 25100 strike while Maximum Put OI is at 25000 then 24900 strike. Call writing is seen at 25000 then 25100 strike while Put writing is seen at 25000 then 24950 strike. Option data suggests a broader trading range in between 24400 to 25400 zones while an immediate range between 24700 to 25200 levels

Global Market Update

* European Market - European equities gained after signs of a weaker US labor market fueled expectations of rate cuts by the Federal Reserve. Both Germany and France Index gained 0.5% each.

* Asian Market - Asian stocks rose, on course for a fifth-straight day of gains, with the technology-dominated markets of South Korea and Taiwan leading the charge to close at record highs. TSMC, Softbank, Tencent and SK Hynix among the biggest boosts. An upbeat cloud-business outlook from Oracle Corp. provided the latest boost for tech sentiment.

* US Data - PPI and MBA Mortgage Application.

* Commodity - Brent Crude gained 1% to above $66/bbl after an Israeli attack in Qatar escalated the conflict in the Middle East. Report that the Israel Defense Forces conducted a strike in Doha targeting the senior leadership of Hamas.

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