Sensex, Nifty end lower after failing to hold opening gains: What drove today’s trade?

The equity benchmark indices BSE Sensex and NSE Nifty gave up their opening gains on Thursday (September 3) and ended with minor cuts, with a sharp adjustment of over 400 points in the Sensex following the corporate action service (CAS) on the weekly expiry day.

Despite the benchmark weakness, the broader market remained stronger, keeping market breadth in favour of advances. The rupee rose to a two-month high, tracking big foreign currency non-resident (FCNR) flows.

Banks, capital-market stocks support trade

Banks provided support to the market, with Axis Bank and HDFC Bank among the top Nifty gainers. RBL Bank and IDFC First Bank gained up to 5% after big FCNR deposits.

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Capital-market stocks also saw buying interest. BSE gained 4%, while Angel One moved higher, tracking the data. Adani Ports ended 2% higher after reacting positively to a brokerage note.

Godrej Consumer, Ather Energy among losers

Godrej Consumer Products fell 3% after inventory concerns emerged in the analyst meet. Ather Energy extended Wednesday’s losses and closed 3% lower.

Auto stocks, Inox Wind gain

Auto companies including Blue Star and Voltas saw buying interest, rising up to 3%. Inox Wind surged 5% after an order win. Solar Industries India gained 4% on reports of an acquisition in the international market.

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From the Sensex basket, Adani Ports & Special Economic Zone Ltd, Axis Bank Ltd, HDFC Bank Ltd, Bharat Electronics Ltd, Tata Consumer Products Ltd and Bharti Airtel Ltd were the major gainers.

HCL Technologies Ltd, Tech Mahindra Ltd, Cipla Ltd, Titan Company Ltd, Bajaj Finance Ltd and SBI Life Insurance Company Ltd were the biggest laggards.