The key equity benchmarks traded with moderate gains in morning trade, supported by robust GST collection in August. Investors are closely tracking developments on U.S. tariff measures, FII outcome and monthly auto sales data. The Nifty traded above 24,700 level.
Media shares advanced after declining in the past trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex gained 302.66 points or 0.38% to 80,666.14. The Nifty 50 index rose 98.20 points or 0.40% to 24,722.05.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 0.53% and the S&P BSE Small-Cap index advanced 0.92%.
The market breadth was strong. On the BSE, 2,744 shares rose and 979 shares fell. A total of 172 shares were unchanged.
Economy:
India collected 1.86 trillion rupees ($21.26 billion) as goods and services tax in August, 6.5% higher than the same period last year, the government said on Monday.
Trump Tariffs:
Activity on the domestic bourses will be in focus after U.S. President Donald Trump reportedly said that India had offered to reduce its tariffs on U.S. imports to zero.
"They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago,” U.S. President Donald Trump wrote on Truth Social. He added that the U.S.′ relationship with India was “one sided”, the report added.
Buzzing Index:
The Nifty Media Index jumped 1.49% to 1,630.85. The Index fell 0.32% in th past trading session.
Sun TV Network (up 5.51%), Network 18 Media & Investments (up 4.09%), Saregama India (up 3.32%), Zee Entertainment Enterprises (up 1.66%), Hathway Cable & Datacom (up 0.9%), Tips Music (up 0.61%), Dish TV India (up 0.59%), Nazara Technologies (up 0.36%), D B Corp (up 0.3%) advanced.
Stocks in Spotlight:
Zaggle Prepaid Ocean Services advanced 1.27% after the company announced a partnership with Suryoday Small Finance Bank to offer its Zaggle Save platform for managing the bank’s employee expenses and benefit programs.
Rail Vikas Nigam (RVNL) rose 1.98% after The company announced that Sukhmal Chand Jain has officially assumed charge as the chairman and managing director (CMD) of the company.
Anupam Rasayan India added 1.21% after the company announced re-appointment of Anand Sureshbhai Desai as managing director & Mona Anandbhai Desai as whole-time director for a term of five years.