Market Close Report Today, September 2, 2026: Nifty, Sensex Decline As Auto and IT Drag Stocks Amid Middle East Hostilities

Mumbai, September 2: Indian equity benchmarks ended lower on Wednesday, with the Nifty closing below the 23,950 mark as selling pressure in auto and information technology stocks weighed on sentiment, with the Iran and US trading attacks with each other in the Middle East. The Sensex fell 373.93 points, or 0.49%, to 76,570.35, while the Nifty declined 141.35 points, or 0.59%, to 23,914.45. 

Market breadth remained weak, with 2,323 stocks declining against 1,827 advances, while 191 stocks were unchanged, pointing to broad-based selling across the market. 

Auto, IT Stocks Lead Decline 

Auto stocks emerged as the biggest drag on the benchmark, with Eicher Motors, Bajaj Auto and Mahindra & Mahindra among the top Nifty losers. The Nifty Auto index declined sharply as investors sold across several auto counters. 

Information technology stocks also faced heavy selling pressure, with Wipro among the biggest losers on the Nifty. The Nifty IT index fell 1.2%, tracking weakness in global technology stocks and concerns over the outlook for the sector. 

Asian Paints was another notable decliner, while the Media index also remained under pressure during the session. 

Energy, Oil & Gas Buck Trend 

The weakness was not uniform across sectors. Energy and Oil & Gas were the only major sectoral indices to finish in positive territory, amid strength in crude prices. 

Coal India emerged among the biggest Nifty gainers, while Adani Ports, Bajaj Finserv, Adani Enterprises and Tata Motors Passenger Vehicles also advanced. 

The rise in energy stocks came against the backdrop of elevated crude oil prices, with markets continuing to assess the potential impact of geopolitical tensions on global oil supplies. 

Broader Markets Also End Lower 

The broader market indices also declined, although losses were relatively contained compared with the headline benchmarks. The Nifty Midcap index fell 0.5%, while the Nifty Smallcap index shed 0.4%. 

The decline in mid- and small-cap stocks, along with the weak market breadth, indicated that the selling extended beyond the largest companies. 

Crude, Global Cues Keep Sentiment Cautious 

Investors remained cautious amid heightened geopolitical uncertainty and elevated crude oil prices. Brent crude traded around $95 a barrel as concerns over disruptions to oil supplies kept energy markets volatile. 

Higher crude prices remain a concern for India because of the country’s dependence on imported oil. A sustained rise in energy costs could put pressure on the import bill, inflation and the rupee, while also affecting corporate margins across several sectors. 

The market’s decline came despite the resilience in energy stocks, as weakness in auto, IT and media counters outweighed gains in select heavyweight stocks. With global markets also facing pressure from rising oil prices and bond yields, investors are likely to remain focused on geopolitical developments and their implications for inflation and interest rates. 

Source

•  NSE
• BSE