Stock News Highlights
Rail Vikas Nigam (+1.52%): Shares gained after the company emerged as the lowest bidder (L1) for a ₹404.88 crore contract from East Coast Railway, strengthening its order book and improving revenue visibility.
Power Grid Corporation of India (+0.15%): Shares were marginally higher after the company received a ₹1,152.49 crore Letter of Intent (LoI) for a renewable energy transmission project in Gujarat, strengthening its order book and revenue visibility.
Sterlite Technologies (+5.00%): Shares hit the upper circuit after the Board approved a ₹3,000 crore capex for its existing manufacturing facility, aimed at meeting rising global demand for optical fibre cables and connectivity solutions, boosting growth prospects and capacity.
Ramco Systems (+4.20%): Shares advanced after the company signed an MoU with Safran Helicopter Engines to integrate Safran’s engine data with Ramco Aviation Software, strengthening its aviation technology offerings and supporting growth prospects in the global aviation software market.
Sectoral Performance
Nifty Metal (+1.07%): The index advanced ahead of the US nonfarm payrolls data, with Tata Steel and APL Apollo among the top gainers. Investors remained cautious as the jobs report could influence Fed rate expectations, bond yields and global equity sentiment.
Nifty Commodities (+0.55%): The index gained, with 17 of 29 constituents advancing and 12 declining, supported by buying in metal and commodity-linked stocks and firm global commodity sentiment.
Nifty Realty (-0.90%): The index declined the most among major sectors after yesterday’s sharp rally, as profit-booking weighed on the sector. Prestige Estates, Lodha Developers and Phoenix Mills were among the biggest losers, dragging the index lower amid broader market weakness.
Nifty Healthcare (-0.87%): The index declined, with 3 of 20 constituents advancing and 17 declining, as regulatory concerns over healthcare pricing and US tariff uncertainties weighed on sentiment, while investors rotated toward stronger-performing sectors.
Market Insights
Technical Level: Nifty opened flat and initially moved higher, finding support near 23,900. The index then rallied to make higher highs, facing resistance around 24,000, before reversing and forming lower lows. It closed near the 23,900 support level.
Advance-Decline Ratio: Market breadth remained positive, with 2,016 stocks advancing against 1,517 declining, resulting in an A/D ratio of 1.33, indicating broader buying interest despite Nifty’s late-session weakness.
The Big Picture: Markets took comfort from Fed Governor Christopher Waller’s willingness to hold rates steady if inflation data cooperates, pushing September hike odds down from 63% to 50%. However, this is still a coin flip, not a dovish pivot, with crude near $95 keeping inflation risks elevated.
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
IPO Corner: Qualiance International SME IPO is Opened for subscription today, making the IPO robust sentiment.
Macro: India GDP Growth Rate YoY (Q2) & China NBS Manufacturing PMI (Aug) data scheduled for release on Monday.
Market Watch: India’s Q2 GDP growth data will be the key domestic trigger, while elevated Brent near $96 and Middle East tensions remain risks. Globally, investors will track US inflation data and Fed signals, which could determine whether the recent market relief sustains.
Word of the day
Resilience
Meaning: The ability to recover quickly from difficulties or withstand pressure.
In markets: “Indian equities showed resilience despite elevated crude prices and geopolitical tensions.”
Synonyms: Endurance, strength, recovery, toughness.