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EQUITY
Post Session: Quick Review
Sep-11-2025

Indian equity benchmarks ended in positive territory with decent gains on Thursday, with the Nifty 50 extending its winning streak to seventh session, buoyed by hopes of an India-US trade deal and expectations of interest rate cuts by the U.S. Federal Reserve. Markets made a negative start and turned volatile during the morning session, as traders remained cautious with exchange data showing that Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 115.69 crore on September 10. However, in afternoon session, indices added some gains and settled the range bound session marginally higher.

Some of the important factors in trade:

India in ‘active dialogue’ with United States for free trade agreement: Some support came as Commerce and Industry Minister Piyush Goyal said that India is in active dialogue with the United States for a free trade agreement. 

India's outward FDI falls 38% in August 2025: There was some cautiousness in the markets as the Reserve Bank of India (RBI) in its latest data report has showed that India’s outward foreign direct investment (OFDI) commitments declined 38.44% to $2097.74 million in August 2025, from $3,407.45 million in August 2024.

Cement stocks were in focus: India Ratings and Research (Ind-Ra) in its latest report stated that GST rationalisation is likely to bring down the prices of cement by Rs 30-35 per 50 kg bag and lower the cost of construction.

Global front: European markets were trading in green ahead of European Central Bank's policy announcement, and the crucial inflation data from the US, later in the day. Asian markets ended mostly in green as a drop in U.S. producer prices fueled hopes of Federal Reserve rate cuts.

The BSE Sensex ended at 81548.73, up by 123.58 points or 0.15% after trading in a range of 81216.91 and 81642.22. There were 16 stocks advancing against 14 stocks declining on the index. (Provisional)

The broader indices ended mixed; the BSE Mid cap index rose 0.14%, while Small cap index was down by 0.01%. (Provisional)

The top gaining sectoral indices on the BSE were Oil & Gas up by 1.19%, Power up by 1.06%, Energy up by 0.96%, Utilities up by 0.95% and PSU up by 0.86%, while IT down by 0.58%, Auto down by 0.32%, Consumer Discretionary down by 0.15%, TECK down by 0.10% and Consumer Durables down by 0.05% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were NTPC up by 1.63%, Axis Bank up by 1.61%, Power Grid Corp up by 1.33%, Bharti Airtel up by 1.29% and Eternal up by 1.17%. On the flip side, Infosys down by 1.51%, Titan Company down by 1.09%, Ultratech Cement down by 0.85%, Bharat Electronics down by 0.76% and Hindustan Unilever down by 0.65% were the top losers. (Provisional)

Meanwhile, the Chief Economic Adviser (CEA) V Anantha Nageswaran has said that the goods and services tax (GST) reforms will help offset some of the adverse impacts of steep tariffs of 50 per cent imposed by the US on Indian shipment and the net impact of this on the Gross Domestic Product (GDP) growth would be 0.2-0.3 per cent in the current financial year (FY26). On the positive side, he said, the GST reforms will play a very good offsetting role by substituting domestic demand for whatever export demand that may not materialise from the United States. He said GST reforms will help alleviate the second and third round effects by creating domestic demand and therefore removing the uncertainty that will come in the way of capital formation. 

CEA exuded confidence that the tariff situation will turn out to be transient and short-lived, rather than long lived. He said ‘but in the event that it lasts longer than we want it to, especially the penal tariff of 25 per cent, then the second and third round effects will become more pronounced, which is the uncertainty with respect to investments, capital formation, overall sentiment in the economy’. However, he said GST reform would not only boost domestic consumption but more importantly it provides an antidote to the second and third rounds of tariff impact. 

On structural reforms in the domestic economy, Nageswaran said while many initiatives have been started by the Centre to boost the agriculture sector, these initiatives are state-level subjects that should be supplemented by them. He emphasised that the agriculture sector still has room to contribute at least 0.5-0.7 per cent more to India's GDP growth and that is a function of giving farmers the right to sell to whosoever, whatsoever, wherever, and whenever. He said 'That is the kind of freedom that farmers need much more than agriculture subsidies. Farmers also need some element of insurance, given their business is inherently prone to ravages of nature and uncertainties'. He added that empowering farmers and not imposing restrictions in their ability to tap market signals from within India or overseas, these would unleash productivity in agriculture and add to GDP growth.

The CNX Nifty ended at 25005.50, up by 32.40 points or 0.13% after trading in a range of 24940.15 and 25037.30. There were 23 stocks advancing against 27 stocks declining on the index. (Provisional)

The top gainers on Nifty were Shriram Finance up by 2.52%, Adani Enterprises up by 2.50%, NTPC up by 1.66%, Axis Bank up by 1.62% and Power Grid Corp up by 1.36%. On the flip side, Infosys down by 1.49%, Bajaj Auto down by 1.41%, Eicher Motors down by 1.15%, SBI Life Insurance down by 1.06% and Titan Company down by 1.01% were the top losers. (Provisional)

European markets were trading higher; France’s CAC rose 65.88 points or 0.85% to 7,827.20, UK’s FTSE 100 increased 38.96 points or 0.42% to 9,264.35 and Germany’s DAX gained 26.45 points or 0.11% to 23,659.40.

Asian markets settled mostly higher on Thursday as an unexpected fall in US producer prices fueled hopes of Federal Reserve rate cuts next week. Meanwhile, investors were awaiting US consumer inflation data due later in the day. Japanese shares rallied, boosted by gains in technology shares as tariff worries eased, and data showed Japan's wholesale inflation rose 2.7% year-on-year in August, matching expectations. Chinese shares gained on renewed optimism about artificial intelligence technology. Seoul shares surged to reach a new record high after President Lee Jae Myung said he would not pursue plans to revise a capital gains tax on stock investments. However, Hong Kong shares declined on profit taking after recent strong gains to a four-year high on expectations for improved earnings growth and policy support from China.

Asian Indices

Last Trade            

Change in Points

Change in %      

Shanghai Composite

3,875.31

63.09

1.63

Hang Seng

26,086.32

-113.94

-0.43

Jakarta Composite

7,747.90

48.89

0.64

KLSE Composite

1,582.85

-7.90

-0.50

Nikkei 225

44,372.5

534.83

1.22

Straits Times

4,355.82

9.36

0.21

KOSPI Composite

3,344.20

29.67

0.89

Taiwan Weighted

25,215.71

23.12

0.09
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