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The Indian stock market ended with nominal gains on Thursday, September 11, tracking positive global cues. After opening slightly lower, market benchmarks, the Sensex and the Nifty 50, traded with slim gains for the most part of the day, finally ending with modest gains.

The Sensex closed with a gain of 124 points, or 0.15 per cent, at 81,548.73, while the Nifty 50 settled at 25,005.50, up 32 points, or 0.13 per cent. The BSE Midcap index climbed by 0.14 per cent, but the Smallcap index ended flat.

The overall market capitalisation of firms listed on the BSE stood at ₹457 lakh crore against ₹456 lakh crore in the previous session.

The domestic market remained range-bound on Thursday, a trend that has persisted since June this year. Concerns over US tariffs, weak earnings, and foreign capital outflow outweighed the positives of tax reforms, a healthy monsoon, and a solid growth outlook.

Vinod Nair, the head of research at Geojit Investments Limited, pointed out that the Nifty 50 index has closed above the critical threshold of 25,000. The unexpected US imposition of a 50 per cent tariff on India initially dragged the main index down to 24,400.

However, Nair highlighted that the index has been steadily recovering from this decline.

"This resurgence can be attributed to several factors like expectation of limited impact on the domestic economy, the Indian government's robust strategic response to US long-term policies, and the announcement of significant domestic reforms, such as the GST, to mitigate trade-related repercussions," said Nair.

"Recently, positive signals from the US to reinitiate trade discussions with India have further paved the way for the index to ascend into a new range, which was highly expected by the market," said Nair.

Shares of Adani Enterprises (up 2.90 per cent), Shriram Finance (up 2.55 per cent), and NTPC (up 1.80 per cent) ended as the top gainers in the index.

Shares of Bajaj Auto (down 1.35 per cent), Infosys (down 1.33 per cent), and Eicher Motors (down 1.14 per cent) ended as the top losers in the index.

Overall, 24 stocks ended higher in the Nifty 50 index, while the remaining 26 ended with losses.

Nifty IT (down 0.50 per cent), Auto (down 0.33 per cent), and Consumer Durables (down 0.29 per cent) ended with losses, while Oil & Gas (up 1.10 per cent), Media (up 1.02 per cent), and PSU Bank (up 0.74 per cent) clocked healthy gains.

Nifty Bank and Financial Services indices rose 0.24 per cent and 0.21 per cent, respectively. Nifty Private Bank index ended 0.29 per cent higher.

Vodafone Idea (52.101 crore shares), YES BANK (11.33 crore shares), and Sigachi Industries (9.93 crore shares) were the most active stocks in terms of volume on the NSE.

Some 14 stocks, including Dhabriya Polywood, Abram Food, Indong Tea Company, Transchem, and Promax Power, jumped over 15 per cent on the BSE.

Out of 4,281 stocks traded on the BSE, 2,100 advanced, while 2,016 declined. Some 165 stocks remained unchanged.

Indian Bank, Fortis Healthcare, Waaree Energies, Zydus Wellness, and Gujarat Mineral Development Corporation were among the 113 stocks that hit their 52-week highs in intraday trade on the BSE.

Some 42 stocks, including Affordable Robotic & Automation, Easy Trip Planners, and United Breweries (UBL), hit their 52-week lows in intraday trade on the BSE.

(This is a developing story. Please check back for fresh updates.)

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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