Summary of this article
Sensex, Nifty gained amid a rally in metal stocks and hope regarding the announcement of GST reforms, which are expected to benefit consumption-focused sectors such as automobiles and consumer durables.
Metal stocks rallied on August 3, with Tata Steel and Hindalco shares emerging as top-gainers among Nifty 50 stocks, finishing the session with gains of 5.97 per cent and 3.04 per cent, respectively.
Austere Systems IPO opened for subscription on September 3. On the other hand, the Amanta Healthcare IPO and the Rachit Prints IPO closed for subscription today.
The headline indices finished the session with gains on September 3. The Sensex closed at 80,567.71, adding 409.83 points or 0.51 per cent. The Nifty closed the session with gains of 131.95 points or 0.54 per cent at 24,711.55. The headline indices gained amid a rally in metal stocks and hope regarding the announcement of GST reforms, which are expected to benefit consumption-focused sectors such as automobiles and consumer durables.
Tata Steel and Hindalco Lead Gainers
Metal stocks rallied on August 3, with Tata Steel and Hindalco shares emerging as top-gainers among Nifty 50 stocks, finishing the session with gains of 5.97 per cent and 3.04 per cent, respectively. JSW Steel Ltd and Coal India Ltd also gained significantly, closing higher by 2.79 per cent and 2.43 per cent, respectively. On the other hand, Infosys and HDFC Life Insurance shares emerged as top losers, finishing the session lower by 1.27 per cent and 0.79 per cent, respectively.
Nifty Metal and Nifty Pharma Gain
The Nifty Metal and Nifty Pharma indices led the gainers among all sectoral indices as they finished the session higher by 3.17 per cent and 1.15 per cent, respectively. Broader market indices extended gains on September 3, finishing the session higher, with the Nifty SmallCap 100 and the Nifty MidCap 100 ending 0.69 per cent and 0.92 per cent, respectively.
Global Markets on September 3
On September 3, Asian indices finished the session on a negative note, with the Nikkei 225, Hang Seng and Shanghai Composite closing lower by 0.91 per cent, 0.67 per cent and 1.17 per cent respectively. Amid the declines the KOSPI finished the session higher by 0.38 per cent. The Dow Jones Industrial Average, S&P 500 and the Nasdaq Composite finished the session lower by as much as 0.82 per cent on September 2.
Primary Market Action On September 3
Austere Systems IPO opened for subscription on September 3. On the other hand, the Amanta Healthcare IPO and the Rachit Prints IPO closed for subscription today. Shares of Anlon Healthcare Ltd, Vikran Engineering Ltd, Current Infraprojects Ltd and Sattva Engineering Construction Ltd made their debut on the exchanges on September 3.
Market Outlook
Foreign Institutional Investor flows and Domestic Institutional Investors flows are set to impact action on D-street tomorrow. Additionally US-India tariff discussions and the outcome of the ongoing GST Council meeting is set to impact trade on September 4.
