Market Close Report Today, September 1, 2026: Nifty, Sensex Edge Down Despite Strong GDP Data

Mumbai, September 1: Indian equity benchmarks ended marginally lower on Tuesday, with the Nifty closing near the 24,050 mark as losses in pharmaceutical, banking, auto and realty stocks offset gains in information technology and FMCG shares. 

The Sensex fell 12.99 points, or 0.02%, to 76,944.28, while the Nifty declined 24.60 points, or 0.10%, to 24,055.80. Market breadth remained weak, with 1,668 stocks advancing against 2,467 declining, while 190 stocks ended unchanged. 

The benchmarks remained under pressure for much of the session despite stronger-than-expected economic growth data. India’s economy expanded 7.8% year-on-year in the April-June quarter, beating expectations, but the positive domestic cue was overshadowed by rising crude prices and weak global sentiment. 

Pharma, Banks Drag; IT Gains 

Sectoral indices ended largely lower, led by pharmaceutical stocks. The Nifty Pharma index fell 1.5%, while Nifty Consumer Durables and Nifty Realty declined 1.4% each. 

The Nifty Auto and Nifty PSU Bank indices dropped 1.2% each, while Nifty Bank fell 1% and Nifty Private Bank declined 0.9%. 

In contrast, Nifty FMCG and Nifty IT gained 0.9% each, while Nifty Infrastructure, Nifty Media and Nifty Oil & Gas indices rose 0.3% apiece. 

Among individual stocks, Shriram Finance, Maruti Suzuki, Nestle India, InterGlobe Aviation and Max Healthcare were the biggest Nifty losers. 

On the other hand, ITC, Adani Ports, Bharti Airtel, HCLTech and ONGC were among the top gainers. 

Broader Market Underperforms 

The broader market also remained under pressure, with mid- and small-cap stocks seeing selling pressure. 

The Nifty Midcap index fell 1.4%, while the Nifty Smallcap index declined 0.2%. The sharper fall in mid-caps reflected a broader risk-off mood, even as the headline benchmarks remained relatively stable. 

Oil Prices Remain Key Risk 

Rising crude prices continued to weigh on sentiment. Brent crude futures rose 0.7% to $91.13 a barrel, while U.S. West Texas Intermediate crude gained 1% to $86.62 as renewed U.S.-Iran fighting revived concerns over supply disruptions in the Middle East. 

For India, higher oil prices remain a key macroeconomic risk given the country’s dependence on imported crude. A sustained rise in Brent could increase the import bill, put pressure on the rupee and add to inflationary pressures. 

Energy stocks, however, benefited from the rise in crude. ONGC was among the Nifty gainers after the state-run oil producer outlined plans to invest Rs 1 lakh crore over five years in domestic deepwater and ultra-deepwater exploration. 

IT Stocks Provide Support 

Information technology stocks bucked the broader weakness, with the Nifty IT index rising 0.9%. 

ITC also emerged among the prominent gainers after the company said its technology arm, ITC Infotech, would acquire a 22.1% stake in Happiest Minds Technologies for around Rs 1,330 crore. 

HCLTech was another notable gainer, helping cushion some of the pressure from banks and pharmaceutical stocks. 

Market Outlook 

The Nifty’s close near 24,050 leaves the index at a crucial level as investors continue to weigh strong domestic growth against deteriorating global risk conditions. 

The key triggers for the market in the near term are likely to remain crude oil prices, developments in the Middle East, the rupee and global bond yields. Investors will also track the U.S. jobs report later this week for clues on the Federal Reserve’s interest-rate outlook. 

While India’s stronger-than-expected GDP growth provides a supportive domestic backdrop, elevated oil prices and weakness in broader markets could keep Indian equities volatile in the near term. 

Source

•  NSE
• BSE