Stock market today: Indian benchmarks – Sensex and Nifty 50 – extended their gains for a second straight session on Tuesday, September 2, supported by positive domestic macroeconomic data, hopes of a US Fed rate cut, and expectations that GST rationalisation will spur consumption and boost India’s economic growth.
Over the past two days, the Sensex has climbed more than 900 points, while the Nifty 50 has regained the 24,700 mark. By around 11 AM on Tuesday, the Sensex was up 355 points, or 0.44 per cent, at 80,719, and the Nifty 50 advanced 114 points, or 0.46 per cent, to 24,739.
“The market responded positively in the opening sessions of September, with benchmarks gaining modestly, aided by strong Q1 GDP growth of 7.8% and expectations of global monetary easing. For India, this reinforces the “Reform, Perform, Transform” narrative and provides scope for recalibrating trade flows at a time when global headwinds, particularly U.S. tariffs, have weighed on sentiment,” said Bhavik Joshi Business Head INVasset PMS.
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Joshi further said that the bilateral meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping at the SCO Summit 2025 in Tianjin has injected a note of cautious optimism into Indian equities at the start of September.
“Discussions centered on stabilising regional supply chains, enhancing bilateral trade, and strengthening security cooperation, with China also signalling fresh support for regional development through expanded funding initiatives. At a sectoral level, the alignment of India with China and Russia under the SCO umbrella is expected to support strategic industries. Fertilizers, particularly urea, may benefit from stable raw material access via Russia, easing supply concerns. Solar panels and renewable energy equipment could see cost advantages from Chinese manufacturing scale and Russian resources, accelerating India’s green transition,” Joshi added.
On the other hand, Prashanth Tapse Sr VP Research Analyst at Mehta Equities Ltd, said that near-term market sentiment is likely to stay volatile and cautious, with traders awaiting follow-up headlines on U.S. tariff developments and updates from the India–China meeting.
“ Risks remain tilted to the downside if export-oriented businesses see further earnings pressure from Trump’s tariff measures. On the positive side, the outlook could brighten if the upcoming GST Council meeting adopts a supportive stance, providing much-needed relief to help the economy withstand tariff-related headwinds. In the meantime, the rupee’s vulnerability and the trajectory of foreign institutional investor (FII) flows will remain critical watchpoints, as stability in these areas will play a key role in restoring confidence and improving overall market sentiment,” Tapse said.
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