On September 1st, the stock market closed in the green, supported by GDP and GST data. The Sensex rose by 0.70% to 80,364.49 points, and the Nifty gained 0.81% to close at 24,625.05 points. Auto stocks showed strength, while Sun Pharma, ITC, and HUL were major laggards.
Stock Market Closing: Today, September 1st, the Indian stock market closed in the green, driven by the positive impact of GDP and GST data. The Sensex ended with a gain of 554.84 points at 80,364.49, and the Nifty closed higher by 198.20 points at 24,625.05. Out of 3,156 shares traded on the NSE, 2,133 advanced, and 935 declined. Stocks in the auto sector, such as Bajaj, Mahindra, Tata Motors, and Hero MotoCorp, witnessed b rallies, while Sun Pharma, ITC, and HUL were among the major decliners.
Reasons for the Market Surge
Auto stocks contributed the most to today's trading. Shares in the automotive sector saw a good upward trend. Investors considered the GDP and GST figures as positive indicators for the market. Furthermore, increased activity from foreign and domestic investors also bolstered the market.
Experts suggest that the rise in GST collections and indicators of economic growth fueled enthusiasm in the market. Investors adopted a profit-booking strategy and invested heavily in auto stocks.
Trading Status on NSE
A total of 3,156 shares were traded on the NSE today. Of these, 2,133 shares closed higher. Meanwhile, 935 shares ended with a decline. The prices of 88 shares remained unchanged. This data indicates that the market saw fewer declines compared to advances today, with the majority of company shares closing in profit.
Top Gaining Stocks Today
Several auto stocks pleased investors in today's trading.
- Bajaj Auto's stock closed at ₹8,967, up by ₹335.50.
- Mahindra & Mahindra's share rose by ₹115.90 to reach ₹3,315.40.
- Tata Motors' stock closed with a gain of ₹21.15 at ₹690.15.
- Hero MotoCorp's share ended at ₹5,244, an increase of ₹156.30.
- Eicher Motors' stock advanced by ₹177 to close at ₹6,280.
The rally in all these stocks not only boosted investor confidence but also highlighted the strength of the auto sector.
Top Losing Stocks Today
On the other hand, some large-cap stocks witnessed a decline in the market.
- Sun Pharma's stock closed at ₹1,563.30, down by ₹31.20.
- ITC's share declined by ₹3.90 to close at ₹405.85.
- HUL's stock fell by ₹10.30 to end at ₹2,649.50.
- Titan Company's share dropped by ₹10.20 to ₹3,618.60.
- Reliance's stock closed at ₹1,353.90, a decrease of ₹3.30.
The decline in these stocks is attributed to investors booking profits and weak economic reports from certain specific sectors.
Sensex-Nifty Strengthen for the Third Consecutive Day
Today's trading indicates that economic data and GST collections have boosted investor sentiment. Both the Sensex and Nifty indices have shown strength for the third consecutive day. The market displayed stability due to the better performance of the automotive sector.
Experts believe that investors have channeled their investments into auto and infrastructure sector stocks, considering the GST and GDP figures. This has maintained a positive trend in the market.
