View on Market Performance

Nifty Gains Over Hundred Points on Broad-Based Buying; Metals Lead the Rise 

The Nifty staged a strong comeback today, ending the session with a gain of 135 points, or 0.55%, to close at 24,715. Nifty recouped all the losses that were seen in yesterday’s session from the day’s high. The index successfully held above yesterday’s low during choppy morning trades and gained momentum in the second half. This marks the third consecutive session that the Nifty has registered a higher low. 

Leading the charge within the Nifty pack were Metal heavyweight stocks like Tata Steel, Hindalco, JSW Steel, and Coal India. On the flip side, it proved to be a tough session for names such as Infy, Nestle, and HDFC Life, which ended as major losers amongst the Nifty pack. Cash market volumes on the NSE were higher by 3% compared to yesterday.  

The rally was notably widespread across sectors. Barring Nifty IT and Media, all other sectoral indices ended the day in the green. Among the gainers, Nifty Metal, Pharma, Healthcare, and PSU Banks led the way.  

The positive sentiment was also evident in the broader market, which continued to outperform the benchmark. The Nifty Midcap 100 Index gained 0.65%, while the Nifty Smallcap 100 Index surged 0.9%. Market breadth remained decidedly positive for the third consecutive day, with advancing shares sharply outnumbering declining ones, as reflected by a strong advance-decline ratio on the BSE of 1.80.  

The Indian rupee, echoing the positive market sentiment, appreciated for the third consecutive day, gaining 8 paise against the greenback. The local currency received support from higher domestic equities and bonds, along with a weaker US dollar and a decline in crude oil prices.  

The short-term trend of the Nifty turned positive as the Nifty closed above the 5-day EMA placed at 24648. A decisive level above 20DEMA (24735) and 50 DEMA (24793) could bring Nifty back into bullish momentum. Support for Nifty has shifted up to 24500. 

Source: HDFC Securities – Prime End of the Day Summary, 3 Sept, 2025 

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