M&M, Maruti shares gained today as markets ended the day on a strong note

Indian equity markets saw a strong day today. Gains were seen both in the first one hour and last one hour of trading. Nifty 50 ended the day, up by 169.90 points or 0.68%. Sensex ended the day, up by 594.95 points or 0.73%.

Top gainers & losers

Top 3 gainers at Nifty 50 today were Kotak Bank, L&T and Mahindra & Mahindra. Top 3 losers were Asian Paint, Nestle India, and Tata Consumer.

Among sectoral indices, automobile index was the top gainer at NSE today. It gained 0.12% today. The advent of the festival season is accompanied with GST rate cut coming into effect on 22^nd September. This has boosted sentiments regarding auto stocks. Auto sales are expected to be high this Diwali season.

Financial services stocks also gained

Financial services stocks also gained today. Nifty Financial Services index ended the day today, up by 0.11%. Financial services stocks such as Kotak Bank saw movement today because of the expectation that US Federal Reserve may announce an interest rate cut tomorrow. RBI may then follow suit and announce an interest rate cut in its next monetary policy meeting.

Nifty FMCG index was the top loser today among sectoral indices. It ended the day down by 0.02%. FMCG stocks saw decline today as market sentiments improved. This, on the news that India and US have resumed their trade talks. If a bilateral trade deal happens between India and US and US tariffs on Indian goods are reduced, then it will be the biggest boost for Indian equity markets.

Disclaimer : This content is only for informational purpose. It does not make any recommendation to act or invest.

Source: NSE