Market Commentary - Quick Review
The domestic equity benchmarks ended with modest gains today, amid strong services PMI data. Investors are closely monitoring a crucial Goods and Services Tax (GST) Council meeting, which is widely expected to announce rate cuts on a range of goods.
The Nifty settled above the 24,700 level. Metal, pharma and PSU bank shares advanced, while IT and media shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex, added 409.83 points or 0.51% to 80,567.71. The Nifty 50 index advanced 135.45 points or 0.55% to 24,715.05.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.63% and the S&P BSE Small-Cap index added 0.90%.
The market breadth was strong. On the BSE, 2,630 shares rose and 1,477 shares fell. A total of 170 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 4.12% to 10.93.
Economy:
The seasonally adjusted HSBC India Services PMI Business Activity Index was up from 60.5 in July to 62.9 in August. This indicated the steepest rate of expansion since June 2010. Demand buoyancy, efficiency gains and greater inflows of new business were some of the reasons firms gave for the upturn.
August data highlighted a broad-based pickup in growth of output across India's manufacturing and service sectors. Subsequently, the HSBC India Composite PMI Output Index rose from 61.1 in July to 63.2 in August, indicating the sharpest pace of expansion in over 17 years.
New Listing:
Shares of Anlon Healthcare were at Rs 91.90 on the BSE, representing a premium of 0.99% compared with the issue price of Rs 91.
The scrip was listed at 91, matching the initial public offer (IPO) price.
The stock has hit a high of Rs 92 and a low of Rs 89. On the BSE, over 6.47 lakh shares of the company were traded in the counter.
Shares of Vikran Engineering were at Rs 95.18 on the BSE, representing a discount of 1.88% compared with the issue price of Rs 97.
The scrip was listed at Rs 99.70, exhibiting a premium of 4.53% to the issue price.
The stock has hit a high of Rs 101.73 and a low of Rs 93.26. On the BSE, over 87.17 lakh shares of the company were traded in the counter.
IPO Update:
The initial public offer (IPO) of Amanta Healthcare received bids for 48,18,77,767 shares as against 70,00,000 shares on offer, according to stock exchange data at 15:15 IST on Wednesday (3 September 2025). The issue was subscribed 68.84 times.
Buzzing Index:
The Nifty Metal index rose 3.11% to 9,676.40. The index added 3.81% in the three trading session.
Tata Steel (up 5.97%), Jindal Steel (up 5.46%), Steel Authority of India (up 5.25%), Hindustan Copper (up 4.28%), National Aluminium Company (up 3.48%), Welspun Corp (up 3.36%), Hindalco Industries (up 3.05%), JSW Steel (up 2.7%), NMDC (up 2.05%) and Vedanta (up 1.82%) added.
Stocks in Spotlight:
Lupin jumped 3.23% after the company received US Food and Drug Administration (USFDA) approval for the abbreviated new drug application (ANDA) for Risperidone extended-release injectable suspension.
Quadrant Future Tek rose 0.47%. The company announced that it has received a letter of acceptance (LOA) worth Rs 128.91 crore from RailTel Corporation of India.
Aarti Pharmalabs rose 1.10% after the company announced the inauguration of phase 1 of its greenfield manufacturing facility located in Atali, District Bharuch, Gujarat.
TBO Tek surged 15.26% after the company announced its agreement to acquire US-based Classic Vacations from Phoenix-based investment firm The Najafi Companies for an estimated total purchase of up to $125 million.
Tata Consultancy Services (TCS) shed 0.35%. The company has entered into a strategic partnership with leading Nordic insurance firm Tryg in a deal valued at '550 million (approximately Rs 4,900 crore).
DCM Shriram shed 0.56%. The company has announced a long-term partnership with Aarti Industries for the supply of chlorine, strengthening its position in the chemicals value chain.
Caplin Point Laboratories rose 1.75% after the company received final approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Milrinone Lactate in 5% Dextrose Injection.
E2E Networks zoomed 10% after the company received a letter from the Ministry of Electronics and Information Technology (MeitY) to allocate GPU resources to Gnani AI under the India AI mission.
Arkade Developers added 4.38% after the company has signed a share purchase agreement to acquire 100% shareholding in Woollen and Textile Industries, for the purpose of acquiring land in Bhandup (West).
Global Markets:
European stocks advanced on Wednesday, recovering from declines in the prior session, as a sell-off in longer-dated regional bonds showed signs of easing.
Asian market ended lower as investors weighed the impact of rising global bond yields alongside fresh developments in trade negotiations and geopolitical tensions.
Chinese markets were in focus following President Xi Jinping's speech at a military parade to commemorate the 80th anniversary of the end of World War II. The event was graced by 26 world leaders, including Russian President Vladimir Putin and North Korea's leader Kim Jong Un.
Meanwhile, Australia's second-quarter GDP grew 1.8% year over year, marking the fastest pace of growth since September 2023. The latest reading was higher than the 1.3% seen in the previous quarter.
Overnight stateside, all three key benchmarks ended the day lower.
The Dow Jones Industrial Average ended down 249.07 points, or 0.55%, to close at 45,295.81. The broad-based S&P 500 dropped 0.69% to settle at 6,415.54, while the Nasdaq Composite slid 0.82% to close at 21,279.63.
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