Sectoral Snapshot Today, September4, 2026: Metals, Financials Lead Gains; IT, Auto, Pharma Stocks Fall

Mumbai, September 4: Indian equity benchmarks snapped a four-session losing streak on Friday, with gains in metal, financial and oil & gas stocks helping the market recover from its recent slide. However, weakness across IT, auto, pharma and realty stocks kept gains in check, with the Nifty ending just below the 23,900 mark. 

The BSE Sensex rose 362.57 points, or 0.48%, to close at 76,515.43, while the Nifty 50 gained 24.25 points, or 0.10%, to settle at 23,897.70. The benchmarks remained volatile through the session as investors weighed positive global cues against elevated crude oil prices and geopolitical uncertainty. 

Metal stocks lead sectoral gains 

The Nifty Metal index was the top-performing sectoral index, rising more than 1%, while Tata Steel was among the top Nifty 50 gainers, rising 2.5% and supporting the metal index. Vedanta group firm Hindustan Zinc, which on Thursday said it had secured a mining lease for a rare earth element block in Karnataka, rose 2.2% on Friday. 

Financial stocks support recovery 

Among top Nifty gainers, SBI Life Insurance, HDFC Life Insurance ended higher. 

Private banking stocks also advanced, providing additional support to the benchmarks. The country’s largest private sector lender HDFC Bank which has reportedly raised close to $12 billion through Foreign Currency Non-Resident (Bank) deposits under the Reserve Bank of India’s concessional swap window, rose 0.8%. Kotak Mahindra Bank also rose the same. 

The gains came as global rate expectations turned more favourable after comments by US Federal Reserve Governor Christopher Waller reduced fears of a rate hike later this month. 

Improved risk appetite following the shift in rate expectations helped lift rate-sensitive financial stocks, although the sector’s gains were not enough to push the Nifty back above 24,000. 

IT, auto stocks drag 

The recovery was tempered by selling across several sectors. The Nifty Auto, IT, PSU Bank, Pharma and Realty indices each declined around 0.5%. 

HCL Technologies emerged as one of the biggest Nifty laggards, while Coal India, Maruti Suzuki, Bharti Airtel and Bajaj Finserv also ended lower. 

The weakness in IT and auto stocks offset some of the gains in metals and financials, preventing the Nifty from reclaiming the 24,000 level at the close. 

Smallcap index hits record high 

The broader market delivered a mixed performance. The Nifty Midcap index slipped 0.2%, while the Nifty Smallcap index gained 0.2% to end at a fresh record high, pointing to continued investor interest in select small-cap stocks despite volatility in the benchmark indices. 

Market breadth remained positive, with 2,396 shares advancing on the NSE, compared with 1,803 declines, while 188 stocks ended unchanged. 

The rebound came after four consecutive sessions of losses, during which elevated crude oil prices, global interest-rate expectations and geopolitical tensions weighed on sentiment. 

Global markets offered some relief on Friday, with Asian equities trading higher and US Treasury yields holding steady as traders scaled back expectations of a Federal Reserve rate hike. 

However, crude oil remained a key risk, with Brent crude trading near $96 a barrel amid heightened tensions involving the US and Iran. Higher oil prices remain a concern for India because of its dependence on crude imports and their potential impact on inflation, corporate margins and the rupee. 

Investors will now track US employment data, crude oil prices and global central-bank signals for further direction. 

Source

• NSE