Last Updated on September 12, 2025 10:33 am by BIZNAMA NEWS
BIZNAMA
Indian equity benchmarks continued their positive momentum, concluding the week with an eight-session winning streak. The optimism was fueled by a combination of domestic and global factors, including hopes of a US Federal Reserve rate cut and progress in India-US trade talks. The Sensex and Nifty closed higher, with the broader market also participating in the rally.
Sector-Wise Performance:
- Defence Sector: The defence sector was a standout performer, leading the gains for the day. This surge was attributed to reports that Indian procurement authorities have initiated negotiations for six next-generation conventional submarines. Companies like Bharat Electronics (BEL) saw significant gains, reflecting the positive sentiment and potential for future orders.
- Financial Services and Banking: The financial services and banking sectors showed strength. The Nifty Financial Services index advanced by 0.70%, while the Nifty Bank index climbed 0.26%. Major bank stocks like Axis Bank and ICICI Bank were among the top Sensex gainers, indicating robust buying interest in this key sector.
- Automobiles: The Nifty Auto index gained 0.46%, with auto giants like Maruti and Tata Motors contributing to the Sensex’s upward movement. The sector has been on a strong run, buoyed by recent GST rate cuts and expectations of a demand recovery.
- Information Technology (IT): The Nifty IT index edged up by 0.30%. The IT sector’s performance has been boosted by a combination of factors, including expectations of US Fed rate cuts, which could lead to increased technology spending, and positive company-specific news. Infosys was a notable gainer.
- Fast Moving Consumer Goods (FMCG): In contrast to the broader market, the FMCG sector faced selling pressure and declined. Hindustan Unilever, Trent, Asian Paints, and ITC were among the stocks that ended in the red, weighing on the overall market.
Broader Market and Currency:
The positive sentiment was not limited to the frontline indices. The broader market also witnessed a strong performance, with the Nifty Smallcap 100 rising by 0.64% and the Nifty Midcap 100 gaining 0.32%.
The Indian rupee also strengthened, appreciating by 0.18% to close at 88.27 against the US dollar. This was supported by mixed foreign inflows, a weak dollar index, and softer crude prices.
