The Indian stock market staged a strong rebound on Monday, September 1, ending a three-day losing streak with broad-based buying.The Sensex surged 555 points (0.70%) to close at 80,364.49, while the Nifty 50 climbed 198 points (0.81%) to settle at 24,625.05.Mid- and small-cap stocks outperformed the benchmarks, with the BSE Midcap index jumping 1.64% and the Smallcap index gaining 1.49%.Investor wealth swelled by over ₹5 lakh crore in a single session, as the combined market capitalisation of BSE-listed companies rose to nearly ₹449 lakh crore, up from under ₹444 lakh crore in the previous session.Indian Stock Market: 10 Key Highlights1. Why did markets rise today?Investor sentiment strengthened after India’s Q1 GDP growth beat estimates at 7.8%, showcasing resilience despite global headwinds. Hopes of GST rationalisation at the upcoming council meeting further lifted optimism."The stronger-than-expected GDP data and GST expectations are fueling confidence in discretionary consumption," said Vinod Nair, Head of Research, Geojit Financial Services.2. Top Nifty 50 gainersAuto stocks led the rally. Bajaj Auto (+4.01%), Mahindra & Mahindra (+3.52%), and Hero MotoCorp (+3.18%) topped the gainers’ list. Overall, 42 of the 50 Nifty stocks ended higher.3. Top Nifty 50 losersOn the downside, Sun Pharma (-1.91%), ITC (-1.03%), and Hindustan Unilever (-0.56%) emerged as the biggest laggards of the session.4. Sectoral performanceWith the exception of Nifty Media (-0.32%) and Pharma (-0.12%), all major sectoral indices closed higher on the NSE. Nifty Auto (+2.80%) and Consumer Durables (+2.08%) led the gains, followed by Metal (+1.64%), IT (+1.59%), Oil & Gas (+1.35%), PSU Bank (+1.11%), and Realty (+1.04%).Nifty Bank added 0.65%, while Financial Services rose 0.69%.5. Most active stocks (by volume)Ola Electric Mobility topped the activity chart with 108.03 crore shares traded, followed by Vodafone Idea (45 crore shares) and YES Bank (7.84 crore shares) on the NSE.6. Sixteen stocks surge over 15% On the BSE, 16 stocks rallied more than 15%, including Pritish Nandy Communications, Shyam Century Ferrous, Jindal Photo, Jindal Poly Investment & Finance, Emmforce Autotech, and RPP Infra Projects.7. Market breadth Of the 4,380 stocks traded on the BSE, 2,795 advanced, 1,391 declined, while 194 remained unchanged, reflecting strong market breadth.8. 129 stocks at 52-week highs Notable names such as TVS Motor Company, Eicher Motors, and UNO Minda were among the 129 stocks touching fresh 52-week highs in intraday trade.9. 113 stocks at 52-week lows Meanwhile, 113 stocks, including United Breweries, Five-Star Business Finance, and Deepak Nitrite, slipped to their 52-week lows on the BSE.10. Nifty 50 technical outlookShrikant Chouhan, Head of Equity Research at Kotak Securities, noted that the Nifty formed a reversal pattern on intraday charts and a bullish candle on daily charts, signaling the continuation of a pullback."For traders now, as long as the market trades above 24,500, the pullback formation is likely to continue. On the higher side, it could bounce back to the 20-day SMA (simple moving average) or 24,700. Further upside may also continue, potentially lifting the market up to 24,800. On the flip side, if the market falls below 24,500, traders may prefer to exit their long positions," he said.Rupak De, Senior Technical Analyst at LKP Securities, highlighted that the Nifty reversed momentum after forming an inverted hammer pattern."On the hourly RSI, a hidden positive divergence is visible. However, sentiment remains sell on rise as long as the index stays below 24,850. Only a decisive move beyond 24,850 might induce a rally towards 25,250/25,500. On the lower end, support is placed at 24,500," he added.Disclaimer: This article is intended for informational and educational purposes only. The opinions and recommendations expressed are those of individual analysts or brokerage firms and do not reflect the views of NewsPoint. Investors are advised to consult certified financial advisors before making any investment decisions.
