Sectoral Snapshot Today, September 3, 2026: Realty, Banks Outperform As IT, FMCG, Auto Stocks Drag

Mumbai, September 3: Indian equities ended lower on Thursday, but the sectoral picture remained mixed, with realty and banking stocks outperforming even as losses in information technology, FMCG, auto and pharmaceutical shares dragged the benchmark indices lower. The Nifty Realty index jumped 2.6%, while Media gained 1.7%. Private Bank and PSU Bank indices added 0.5% each. 

Realty Stocks Lead Sectoral Gains 

Realty stocks emerged as the strongest performers during the session, with the Nifty Realty index gaining 2.6%. Buying interest in the sector helped the broader market remain resilient despite the weakness in the headline indices. Brigade Enterprises rose 11.3% while Anant Raj jumped 6.7%. 

Media stocks also saw strong demand, with the Nifty Media index rising 1.7% with multiplex chain PVR INOX advancing 3%. 

The gains in real estate and media were accompanied by buying in select banking stocks, highlighting the divergence between individual sectors as investors remained cautious amid heightened market volatility. 

Banks Outperform Despite Market Weakness 

Banking stocks provided some support to the market, with both private-sector and public-sector lenders gaining 0.5% each. The relative strength in financials followed a sharp rise in foreign-currency deposits and borrowings mobilised by Indian banks under the Reserve Bank of India’s special measures. 

Indian banks raised $136.4 billion through the schemes, significantly above expectations, with more than $60 billion mobilised through non-resident Indian deposits in the final 10 days of the programme. The additional foreign-currency liquidity is expected to support banks’ funding conditions and provide some stability to the rupee. 

RBL Bank was among the notable gainers, rising 4.8% after mobilising $3.4 billion through the facility, while several large lenders also benefited from the improved liquidity backdrop. Private lender HDFC Bank rose 0.8% while State Bank of India edged up 0.2%. 

However, the strength in financials was not enough to prevent the benchmark indices from ending lower. 

IT, FMCG Stocks Under Pressure 

Information technology stocks remained among the key drags on the market. The Nifty IT index ended around 0.8% lower, with investors continuing to assess the impact of global interest-rate expectations and the outlook for technology spending. 

Hexaware Technologies fell 2.7% after its chief executive resigned, adding to pressure on the sector. 

FMCG stocks also weakened, with concerns over elevated commodity costs weighing on sentiment. Godrej Consumer Products was among the notable decliners, falling 2.8% on challenges cited for its business. 

Auto, Pharma Also Decline 

Auto and pharmaceutical stocks also ended lower, with both sectoral indices losing 0.5% each. The weakness across these segments added to the pressure on the benchmarks and offset gains in realty and financial stocks. 

The sectoral divergence was reflected in the benchmark performance. The Sensex fell 417.49 points, or 0.55%, to 76,152.86, while the Nifty declined 41 points, or 0.17%, to 23,873.45. 

Mid- and Small-Caps Outperform 

The broader market remained comparatively resilient. The Nifty Midcap index rose 0.37%, while the Smallcap index gained 1.2%, significantly outperforming the headline indices. 

Positive market breadth, with 2,453 stocks advancing against 1,686 decliners on the NSE, indicated that Thursday’s weakness was concentrated among selected large-cap and sectoral heavyweights rather than being broad-based. 

Oil, Rates Remain Key Risks 

The sectoral outlook is likely to remain sensitive to crude oil prices, global bond yields and geopolitical developments. Renewed US-Iran tensions have pushed oil prices higher, raising concerns over India’s import bill, inflation and the rupee. 

Investors will also track Friday’s US non-farm payrolls report for signals on the Federal Reserve’s interest-rate trajectory. Any change in expectations around US rates could influence global yields, foreign fund flows and the performance of rate-sensitive sectors such as financials and realty. 

Source

• NSE