Stock News Highlights
Housing & Urban Development Corporation (+1.53%): Shares gained after the company signed an MoU with the Government of Bihar to provide financial assistance of up to ₹25,000 crore over five years for industrial infrastructure development, strengthening its growth prospects and revenue visibility.
Power Grid Corporation of India (-0.45%): Shares declined marginally despite the company receiving a Letter of Intent (LoI) for an inter-state transmission project under Rajasthan REZ Phase-IV, with quoted annual transmission charges of ₹3,244.33 crore, as the positive order win failed to offset broader market pressure.
Page Industries (-0.93%): Shares declined marginally after the company received a formal court notice from Dubai in a dispute involving its UAE distributor, Yellow Flower Trading LLC. The matter involves a financial claim of ₹294 crore (AED 113.55 million) plus 9% annual penalty interest, weighing slightly on investor sentiment.
Coal India (+0.53%): Shares remained in focus as the company fixed September 4 as the ex-dividend and record date for its final dividend.
Sectoral Performance
Nifty Realty (+2.58%): The index surged, emerging as a top sectoral performer, supported by strong buying interest in real estate stocks. Anant Raj and Brigade, while expectations of lower interest rates, GST rationalisation, infrastructure development and sustained housing demand boosted sentiment toward the sector.
Nifty Media (+1.74%): The index advanced after three consecutive sessions of decline, with 7 of 10 constituents gaining and 3 declining. The rebound reflected selective buying and bargain hunting after recent weakness, despite broader market pressure from elevated crude prices and geopolitical uncertainty.
Nifty IT (-0.85%): The index corrected after yesterday’s gains, with Infosys, TCS and Tech Mahindra among the biggest losers as investors booked profits following the recent rebound. Elevated crude prices, geopolitical uncertainty and broader risk-off sentiment also weighed on IT stocks. market weakness.
Nifty FMCG (-0.62%): The index declined, with 6 of 15 constituents advancing and 9 declining, as renewed commodity inflation raised concerns over input costs and margins. Rising crude prices and broader risk-off sentiment also weighed on the defensive sector.
Market Insights
Technical Level: Nifty opened with a gap-up, facing resistance near 24,020 at the opening. The index then reversed from this level and witnessed sustained selling pressure, making lower lows throughout the session before closing near 23,870, which emerged as the key support level.
Advance-Decline Ratio: Market breadth was positive, with 2,207 stocks advancing against 1,311 declining, resulting in an A/D ratio of 1.68, indicating broad-based buying.
The Big Picture: Crude remained the dominant force, with Iran’s missile and drone strikes on Kuwait escalating Middle East tensions and keeping supply disruption fears alive, pushing Brent near $97. Globally, US-China tensions also highlighted America’s reliance on Chinese data-center components, raising cost and supply concerns for the AI infrastructure boom.
FII/DII Activity (September 03, 2026): DII buying stood at ₹4,977 crore, while FII selling was ₹2,346 crore, indicating strong domestic institutional support despite foreign outflows.
Watch Out For Tomorrow
Market Watch: Nifty stands at a crucial support near 23,800. Sustaining this level could trigger a recovery toward 24,050 resistance, while a decisive break below 23,800 may open the door to further downside. Traders should watch global cues, crude prices and institutional flows, as volatility is likely to remain elevated.
Word of the day
Volatility
Meaning: The degree to which an asset’s price moves up or down over a period.
Market Context: Higher volatility means sharper price swings and greater uncertainty, while lower volatility indicates relatively stable price movements.
Example: “Rising crude prices have increased volatility in the equity market.”