Sectoral Snapshot Today, September 1, 2026: Pharma, Banks, Autos Drag; IT, FMCG Stocks Gain

Mumbai, September 1: Indian equity benchmarks ended marginally lower on Tuesday as selling in pharmaceutical, banking, auto and realty stocks offset gains in information technology, FMCG and select energy shares. The Nifty 50 fell 0.10% to 24,055.80, while the Sensex slipped 0.02% to 76,944.28. 

Pharma Stocks Lead Decline 

Pharmaceutical stocks emerged as the biggest sectoral drag, with the Nifty Pharma index falling 1.4%. Shares of Sun Pharmaceutical Industries declined 2.8% after the drugmaker and its subsidiary Teva joined eight other pharmaceutical companies at the White House to announce measures aimed at improving access to lower-cost medicines in the U.S. 

Sun Pharma said its long-standing investments in the U.S. market will qualify the company for a two-year delay in the imposition of Section 232 tariffs on innovative pharmaceutical products. 

Under the agreement, Sun Pharma will also extend Most Favoured Nation (MFN) pricing to state Medicaid programmes and apply the pricing framework to future launches of innovative medicines in the U.S. 

The decline in pharma index came despite India’s stronger-than-expected 7.8% GDP growth in the June quarter, with global concerns around inflation, crude prices and interest rates weighing on sentiment. 

Banks, Auto Stocks Fall 

Banking stocks also faced selling pressure, with the Nifty Bank index declining 1%. ICICI Bank fell 1.1% while Axis Bank fell 3.2%. State Bank of India declined 2.4%.  

Kotak Mahindra Bank shares gained 1.3%, outperforming the broader banking pack, after Reuters reported that the lender has shortlisted two internal candidates for the chief executive officer position. 

The Nifty PSU Bank index fell 1.2% while the private bank index fell 0.9%. 

Auto stocks also declined, with the Nifty Auto index falling 1.2% after sales data rollout. Maruti Suzuki was among the biggest Nifty losers, falling 4.4% after the automaker posted 10% sequential decline in August sales. Hero MotoCorp jumped 2%. TVS Motor Company fell 3.2% while Bajaj Auto rose 1.9%. 

IT Stocks Buck Trend 

Information technology stocks outperformed, with the Nifty IT index rising 1%. HCLTech was among the prominent gainers, rising 3%, while other IT majors also benefited from buying interest. 

ITC was another standout stock, gaining 4.3% after the company said its technology arm ITC Infotech would acquire a 22.1% stake in Happiest Minds Technologies for about Rs 1,330 crore. While ITC gained, Happiest Minds fell 10.87%. 

Energy Stocks Gain On Higher Crude 

Oil and gas stocks gained as crude prices climbed above $91 a barrel following renewed U.S.-Iran military tensions and concerns over potential disruption to Middle East supplies. 

The Nifty Oil & Gas index rose 0.3%, with ONGC and Oil India among the stocks benefiting from the rise in crude prices. ONGC was also in focus after outlining plans to invest Rs 1 lakh crore over five years in domestic deepwater and ultra-deepwater exploration. Oil to telecom giant Reliance Industries rose 2.5%. 

The rise in crude, however, remains a broader concern for the Indian economy, given its dependence on imported oil. Higher energy costs could pressure the rupee and inflation while raising input costs for fuel-intensive sectors. 

FMCG Stocks Provide Support 

The Nifty FMCG index gained 0.9%, helping limit the downside in the headline indices. ITC rose 4.3%, Hindustan Unilever advanced 1.4%, and Nestle India fell 3.9%, ending up among the biggest Nifty losers during the session. 

The consumer sector’s relative resilience provided some support as investors balanced strong domestic growth against elevated global risks. 

Mid-, Small-Caps Underperform 

Broader markets saw sharper selling, with the Nifty Midcap index falling 1.4% and the Smallcap index declining 0.2%.

Among individual stocks, Tribhovandas Bhimji Zaveri surged 20% after GRT Jewellers agreed to acquire a controlling stake, while Milky Mist Dairy Food gained 10% after reporting a multi-fold increase in June-quarter profit. 

EPL fell 8.3% following a large block deal while Ola Electric declined 1.5% as investors booked profits after the stock’s sharp rally in the previous session. 

Source

• NSE