On Tuesday, September 2, Indian equity benchmark indices opened the trading session on a positive note. As the session progressed, the benchmark index Nifty 50 reclaimed its 20-DMA. After midday, the indices slipped into the negative territory.
Volatility was the hallmark of Tuesday's trading session, marking the first weekly derivative expiry on the NSE following the shift of Nifty weekly expiries from Thursday to Tuesday. The daily range of Nifty stood at 234 points, the highest daily range since August 12.
At the closing bell, the Nifty 50 ended down by 45.45 points, or 0.18%, at 24,579.60. The Sensex slipped by 206.60 points, or 0.26%, to 80,157.89. The Nifty 50 index was dragged down by ICICI Bank and HDFC Bank.
India’s Nifty Auto Index fell as much as 0.3% before trimming losses on Tuesday after reports that an Indian tax panel has proposed significant increases in consumer levies on luxury electric vehicles. The panel suggested raising the GST rate to 18% from the current 5% for EVs priced between ₹20 lakh and ₹40 lakh ($23,000–$46,000) and applying higher levies on EVs priced above $46,000.
Sugar stocks rally up to 20% after the government allows ethanol production from sugarcane juice, molasses.
On the sectoral front, 6 of the 11 key sectoral indices ended in positive territory. Meanwhile, broader indices like Nifty Midcap 100 and Smallcap 100 ended in the green.
Among individual stocks,
Nifty FMCG surged by 1.12%, emerging as the top sectoral gainer, on expectations of GST rate cuts. Among the index constituents, Dabur and United Breweries were the top gainers. On the flip side, Nifty Financial Services declined by 0.66%, dragged down by SBI Cards.
The key drivers of the index gains were:
On the other hand, these stocks weighed on the index:
The broader market indices relatively outperformed and ended in green. The Mid-cap 100 index ended up by 0.27%, and the Small-cap 100 index closed higher by 0.53%.
As of September 1, 2025, the market breadth was in favour of advancing stocks. Out of 3,153 stocks traded on the NSE, 1,929 advanced, 1,117 declined, and 86 remained unchanged.
A total of 83 stocks touched their 52-week highs, while 44 hit their 52-week lows. Additionally, 151 stocks were locked in their upper circuits, whereas 46 stocks were in lower circuits.
Disclaimer: The article is for informational purposes only and not investment advice.
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