SENSEX

Indian indices failed to hold on the intraday gains and ended marginally higher in the volatile session on September 9 with Nifty above 24,750 led by auto, metal, oil &amp; gas and PSU Banks.

After a positive opening, the benchmark indices extended the gains as the day progress with Nifty hitting day's high of 24,885.50, however, the last hour profit booking erased most of the gains to close near day's low.

At close, the Sensex was up 76.54 points or 0.09 percent at 80,787.30, and the Nifty was up 32.15 points or 0.13 percent at 24,773.15. BSE Midcap and smallcap indices up 0.5% each.

Tata Motors, JSW Steel, Eicher Motors, M&amp;M, Bajaj Auto are among major gainers on the Nifty, while losers are Trent, SBI Life Insurance, Asian Paints, TCS, Tech Mahindra.

On the sectoral front, Auto index rose 3.3%, realty oil &amp; gas, PSU Bank, metal up 0.5-1%, while IT index shed 0.75%.

Also Read: <a href="https://www.moneycontrol.com/news/business/markets/sebi-may-open-automatic-window-for-foreign-investors-to-stem-equity-outflows-13527649.html">SEBI may open ‘automatic window’ for foreign investors to stem equity outflows</a>

In stock-specific action, Prime Focus shares gained 10% post Ramesh Damani, Madhu Kela's AMC, Utpal Sheth bought shares of the company, Tata Motors shares added 3.6% on reduction in prices of cars and SUVs, Mahindra and Mahindra shares rose 4% on prices cut across its ICE SUV portfolio, BHEL share price up 2.3% on long-term MoU with Singapore-based Horizon Fuel Cell Technologies, Servotech shares added 5.8% post strategic partnership with Zhuhai Piwin New Energy, Adani Power share price rose 4.2% on setting-up 570 MW hydroelectric project in Bhutan.

SpiceJet shares slipped 3.25% on reporting losses of Rs 233 crore in Q1, Vedanta down 2%, Jaiprakash Associates shares fell 5% as former wins bid to acquire the later one.

ACME Solar share price gained 3% on placing 2 GWh Battery Energy Storage System order through Posco International Corporation, Max Estates shares rose 2.6% on executing securities purchase agreement to acquire Base Buildwell.

More than 160 stocks touched their 52-week highs on the BSE, including KIOCL, Gujrat Mineral, Ashok Leyland, Tata Steel, Muthoot Finance, M&amp;M, JSW Steel, TVS Motor, UNO Minda, L&amp;T Finance, Dalmia Bharat, Cummins India, Nykaa, among others. <a href="https://www.moneycontrol.com/stocks/marketstats/bsehigh/index.php">Click to View More</a>

Outlook for September 9

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After witnessing a sustainable recovery from the lows on Friday, Nifty encountered hurdle around 24900 levels on Monday and showed profit booking from the highs and closed with the gains of 32 points.

A small red candle was formed on the daily chart with long upper shadow. Technically, this market action indicates a consolidation movement in the market with volatility. Though, buying is emerging from the lows, the market is finding stiff resistance of around 24900-25000 levels (down sloping trend line on the daily chart and previous weekly highs). However, Nifty manages to close above the daily 10/20-day EMA around 24730 levels.

The underlying trend of Nifty remains positive with choppy movement. Having placed below the crucial overhead resistance around 24900-25000 levels, there is a possibility of some more consolidation or minor weakness in the next 1-2 sessions. Immediate support is placed at 24620. A decisive upside above 25000 is likely to open sharp buying in the market.

Ajit Mishra – SVP, Research, Religare Broking

Markets started the week on a positive note and ended with modest gains amid mixed cues. After opening firm above the 24,800 mark, the Nifty gradually moved higher through the day; however, sharp profit-taking in the final hour trimmed the gains. On the sectoral front, autos,realty and metals were among the performers, while IT and FMCG lagged. Broader markets displayed resilience, with the Nifty Midcap and Smallcap indices closing modestly higher—underlining sustained interest in the wider universe.

Investor sentiment was supported by the GST rate cut tailwinds and dovish signals from the US Federal Reserve, which bolstered rate-cut hopes after weak US jobs data. Easing geopolitical risks and optimism around India’s domestic economic outlook also lent support to select sectors. However, persistent foreign institutional selling and speculation over potential restrictions on IT services exports capped the upside. Fund flows reflected a tug-of-war between FII outflows and robust DII buying, a typical feature of markets at an inflection point.

On the index front, we expect the prevailing tussle to end only with a decisive breakout above the 25,000 mark on the Nifty, while the 24,400–24,600 zone should act as a cushion. We suggest closely tracking the performance of banking and IT majors for the next directional move in the index. Meanwhile, traders should continue to focus on other sectors that are holding firm and participating on a rotational basis.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

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Taking Stock: Market ends flat amid volatility; autos zoom on price cut

Indian indices failed to hold on the intraday gains and ended marginally higher in the volatile session on September 9 with Nifty above 24,750 led by auto, metal, oil &amp;amp; gas and PSU Banks.

After a positive opening, the benchmark indices extended the gains as the day progress with Nifty hitting day's high of 24,885.50, however, the last hour profit booking erased most of the gains to close near day's low.

At close, the Sensex was up 76.54 points or 0.09 percent at 80,787.30, and the Nifty was up 32.15 points or 0.13 percent at 24,773.15. BSE Midcap and smallcap indices up 0.5% each.

Tata Motors, JSW Steel, Eicher Motors, M&amp;amp;M, Bajaj Auto are among major gainers on the Nifty, while losers are Trent, SBI Life Insurance, Asian Paints, TCS, Tech Mahindra.

On the sectoral front, Auto index rose 3.3%, realty oil &amp;amp; gas, PSU Bank, metal up 0.5-1%, while IT index shed 0.75%.

Also Read: SEBI may open ‘automatic window’ for foreign investors to stem equity outflows

In stock-specific action, Prime Focus shares gained 10% post Ramesh Damani, Madhu Kela's AMC, Utpal Sheth bought shares of the company, Tata Motors shares added 3.6% on reduction in prices of cars and SUVs, Mahindra and Mahindra shares rose 4% on prices cut across its ICE SUV portfolio, BHEL share price up 2.3% on long-term MoU with Singapore-based Horizon Fuel Cell Technologies, Servotech shares added 5.8% post strategic partnership with Zhuhai Piwin New Energy, Adani Power share price rose 4.2% on setting-up 570 MW hydroelectric project in Bhutan.

SpiceJet shares slipped 3.25% on reporting losses of Rs 233 crore in Q1, Vedanta down 2%, Jaiprakash Associates shares fell 5% as former wins bid to acquire the later one.

ACME Solar share price gained 3% on placing 2 GWh Battery Energy Storage System order through Posco International Corporation, Max Estates shares rose 2.6% on executing securities purchase agreement to acquire Base Buildwell.

More than 160 stocks touched their 52-week highs on the BSE, including KIOCL, Gujrat Mineral, Ashok Leyland, Tata Steel, Muthoot Finance, M&amp;amp;M, JSW Steel, TVS Motor, UNO Minda, L&amp;amp;T Finance, Dalmia Bharat, Cummins India, Nykaa, among others. Click to View More

Outlook for September 9

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

After witnessing a sustainable recovery from the lows on Friday, Nifty encountered hurdle around 24900 levels on Monday and showed profit booking from the highs and closed with the gains of 32 points.

A small red candle was formed on the daily chart with long upper shadow. Technically, this market action indicates a consolidation movement in the market with volatility. Though, buying is emerging from the lows, the market is finding stiff resistance of around 24900-25000 levels (down sloping trend line on the daily chart and previous weekly highs). However, Nifty manages to close above the daily 10/20-day EMA around 24730 levels.

The underlying trend of Nifty remains positive with choppy movement. Having placed below the crucial overhead resistance around 24900-25000 levels, there is a possibility of some more consolidation or minor weakness in the next 1-2 sessions. Immediate support is placed at 24620. A decisive upside above 25000 is likely to open sharp buying in the market.

Ajit Mishra – SVP, Research, Religare Broking

Markets started the week on a positive note and ended with modest gains amid mixed cues. After opening firm above the 24,800 mark, the Nifty gradually moved higher through the day; however, sharp profit-taking in the final hour trimmed the gains. On the sectoral front, autos,realty and metals were among the performers, while IT and FMCG lagged. Broader markets displayed resilience, with the Nifty Midcap and Smallcap indices closing modestly higher—underlining sustained interest in the wider universe.

Investor sentiment was supported by the GST rate cut tailwinds and dovish signals from the US Federal Reserve, which bolstered rate-cut hopes after weak US jobs data. Easing geopolitical risks and optimism around India’s domestic economic outlook also lent support to select sectors. However, persistent foreign institutional selling and speculation over potential restrictions on IT services exports capped the upside. Fund flows reflected a tug-of-war between FII outflows and robust DII buying, a typical feature of markets at an inflection point.

On the index front, we expect the prevailing tussle to end only with a decisive breakout above the 25,000 mark on the Nifty, while the 24,400–24,600 zone should act as a cushion. We suggest closely tracking the performance of banking and IT majors for the next directional move in the index. Meanwhile, traders should continue to focus on other sectors that are holding firm and participating on a rotational basis.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decision.

The equity benchmark indices settled higher for the fourth straight session with modest gains on Monday after giving up most of the early gains due to profit-booking in IT and FMCG shares and continued selling by foreign investors.

Sensex rose 76.54 points or 0.09 percent to settle at 80,787.30. During the day, it jumped 460.62 points or 0.57 percent to a high of 81,171.38 led by gains in auto, oil and private bank shares.

The NSE Nifty ended 32.15 points or 0.13 percent higher at 24,773.15 after touching an intraday high above 24,800.

Fag-end selling trimmed early gains, with IT and FMCG stocks among the biggest drags. The Nifty IT index fell 1.6 per cent from the day’s high. On the other hand, the broader market showed resilience as the Nifty Midcap and Smallcap indices closed modestly higher.

<a href="https://www.moneycontrol.com/india/stockpricequote/retail/trent/T04">Trent</a> declined 3.81 percent. Asian Paints, HCL Tech, Tech Mahindra, L&amp;T, <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/tataconsultancyservices/TCS">TCS</a>, Power Grid and Sun Pharma were also among the laggards.

Key factors behind the market decline

1) Profit-taking in IT stocks: The Nifty IT index closed nearly 1 percent lower after US trade adviser Peter Navarro reposted a message on social media calling for tariffs on foreign remote workers, raising concerns over Indian IT exports.

Vinod Nair, Head of Research, Geojit Financial Services, said, "The domestic market failed to sustain early gains as late-session sell-off reflected the prevailing buy-on-dips, sell-on-rallies strategy. Auto and ancillary stocks continued to rally on demand recovery hopes after GST rate cuts, while IT remained weak amid global uncertainties."

<a href="https://www.moneycontrol.com/news/business/india-engaging-with-us-global-firms-to-protect-it-jobs-says-ashwini-vaishnaw-13526681.html" target="_blank">India engaging with US, global firms to protect IT jobs, says Ashwini Vaishnaw</a>

2) FII selling: Foreign Institutional Investors offloaded equities worth Rs 1,304.91 crore on Friday, continuing the recent selling trend that weighed on market sentiment.

3) Rising crude oil prices: Global oil benchmark Brent crude advanced 1.88 percent to USD 66.73 a barrel. Higher crude prices typically impact India’s import bill and inflation outlook, adding to investor caution.

Outlook

Ajit Mishra, SVP, Research, Religare Broking Ltd, said, "The prevailing tussle in the market will likely end only with a decisive breakout above 25,000 on the Nifty. On the downside, the 24,400–24,600 zone should act as support. Traders should closely track banking and IT majors for directional cues, while focusing on other sectors showing strength on a rotational basis."

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

Sensex falls 400 pts from day's high, Nifty settles below 24,800: 3 reasons behind market decline

The equity benchmark indices settled higher for the fourth straight session with modest gains on Monday after giving up most of the early gains due to profit-booking in IT and FMCG shares and continued selling by foreign investors.

Sensex rose 76.54 points or 0.09 percent to settle at 80,787.30. During the day, it jumped 460.62 points or 0.57 percent to a high of 81,171.38 led by gains in auto, oil and private bank shares.

The NSE Nifty ended 32.15 points or 0.13 percent higher at 24,773.15 after touching an intraday high above 24,800.

Fag-end selling trimmed early gains, with IT and FMCG stocks among the biggest drags. The Nifty IT index fell 1.6 per cent from the day’s high. On the other hand, the broader market showed resilience as the Nifty Midcap and Smallcap indices closed modestly higher.

Trent declined 3.81 percent. Asian Paints, HCL Tech, Tech Mahindra, L&amp;amp;T, TCS, Power Grid and Sun Pharma were also among the laggards.

Key factors behind the market decline

1) Profit-taking in IT stocks: The Nifty IT index closed nearly 1 percent lower after US trade adviser Peter Navarro reposted a message on social media calling for tariffs on foreign remote workers, raising concerns over Indian IT exports.

Vinod Nair, Head of Research, Geojit Financial Services, said, &quot;The domestic market failed to sustain early gains as late-session sell-off reflected the prevailing buy-on-dips, sell-on-rallies strategy. Auto and ancillary stocks continued to rally on demand recovery hopes after GST rate cuts, while IT remained weak amid global uncertainties.&quot;

India engaging with US, global firms to protect IT jobs, says Ashwini Vaishnaw

2) FII selling: Foreign Institutional Investors offloaded equities worth Rs 1,304.91 crore on Friday, continuing the recent selling trend that weighed on market sentiment.

3) Rising crude oil prices: Global oil benchmark Brent crude advanced 1.88 percent to USD 66.73 a barrel. Higher crude prices typically impact India’s import bill and inflation outlook, adding to investor caution.

Outlook

Ajit Mishra, SVP, Research, Religare Broking Ltd, said, &quot;The prevailing tussle in the market will likely end only with a decisive breakout above 25,000 on the Nifty. On the downside, the 24,400–24,600 zone should act as support. Traders should closely track banking and IT majors for directional cues, while focusing on other sectors showing strength on a rotational basis.&quot;

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Closing Bell: Profit-booking erodes gains; Sensex off 400 pts from day's high, Nifty under 24,800

After opening higher, Dalal Street rose about half a percent in early afternoon trade but later pared gains to settle near the flatline on Monday, September 8.

At close, the Nifty was quoting 24,773.15, higher by 32 points or 0.13 percent, while the Sensex was at 80,787.30, up 77 points or 0.09 percent.

Meanwhile, against the backdrop of tariff tensions between India and the US, Prime Minister Narendra Modi responded to President Donald Trump’s “always be friends” remark by affirming that he “wholeheartedly shares the sentiment.” Modi stressed that ties between the two nations rest on a “very positive” strategic partnership at the global level.

Going forward, investors will closely watch inflation data from both India and the US, which will provide cues on the US Federal Reserve’s monetary stance. In its previous meeting, Fed Chair Jerome Powell had hinted at a 25 basis points rate cut, while the latest weaker-than-expected US jobs report further strengthened expectations of a cut when the Fed meets next week.

On the sectoral front, Nifty Auto emerged as the day’s top performer, extending last week’s rally on September 8 noon deals. Gains in Maruti Suzuki, Mahindra &amp; Mahindra, and Tata Motors led the charge as the Street cheered steep reductions in car prices ranging from Rs 65,000 to Rs 7.8 lakh. Further, BofA Securities also wrote a bullish note on the sector, believing there to be further upside.

Sectoral indices were mixed. Nifty Auto led the gains with a sharp rise of 3.27 percent, supported by strong momentum in the sector. Nifty PSU Bank and Nifty Metal were also in positive territory, adding 0.52 percent and 0.38 percent, respectively, while Nifty Realty and Nifty Infra inched up 0.44 percent and 0.15 percent. Nifty Media too edged higher by 0.20 percent.

On the other hand, pressure was visible in defensives, with Nifty IT slipping 0.94 percent, Nifty Pharma down 0.27 percent, and Nifty FMCG lower by 0.21 percent.

From a technical standpoint, the index continues to lack a decisive trend, with bulls and bears alternating dominance across sessions. "Nifty has remained locked within a broad consolidation band of 24,500–25,000, and only a breakout beyond this corridor will spark a directional move with meaningful momentum," said Dhupesh Dhameja, of SAMCO Securities.

He added a decisive move above 24,900 could unleash meaningful short covering, paving the way for an extended rally, while a breakdown below 24,500 may trigger a fresh leg of bearish continuation. "Until then, range-bound action is likely to dominate, favoring a “range trading” approach with 24,400 as the floor and 24,900 as the ceiling," he said.

<a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-sensex-nifty-50-share-price-gift-nifty-latest-updates-08-09-2025-liveblog-13527218.html">Follow our market blog to catch all the live updates</a>

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Nifty rises for fourth session, Sensex settles flat while auto stocks race ahead

After opening higher, Dalal Street rose about half a percent in early afternoon trade but later pared gains to settle near the flatline on Monday, September 8.

At close, the Nifty was quoting 24,773.15, higher by 32 points or 0.13 percent, while the Sensex was at 80,787.30, up 77 points or 0.09 percent.

Meanwhile, against the backdrop of tariff tensions between India and the US, Prime Minister Narendra Modi responded to President Donald Trump’s “always be friends” remark by affirming that he “wholeheartedly shares the sentiment.” Modi stressed that ties between the two nations rest on a “very positive” strategic partnership at the global level.

Going forward, investors will closely watch inflation data from both India and the US, which will provide cues on the US Federal Reserve’s monetary stance. In its previous meeting, Fed Chair Jerome Powell had hinted at a 25 basis points rate cut, while the latest weaker-than-expected US jobs report further strengthened expectations of a cut when the Fed meets next week.

On the sectoral front, Nifty Auto emerged as the day’s top performer, extending last week’s rally on September 8 noon deals. Gains in Maruti Suzuki, Mahindra &amp;amp; Mahindra, and Tata Motors led the charge as the Street cheered steep reductions in car prices ranging from Rs 65,000 to Rs 7.8 lakh. Further, BofA Securities also wrote a bullish note on the sector, believing there to be further upside.

Sectoral indices were mixed. Nifty Auto led the gains with a sharp rise of 3.27 percent, supported by strong momentum in the sector. Nifty PSU Bank and Nifty Metal were also in positive territory, adding 0.52 percent and 0.38 percent, respectively, while Nifty Realty and Nifty Infra inched up 0.44 percent and 0.15 percent. Nifty Media too edged higher by 0.20 percent.

On the other hand, pressure was visible in defensives, with Nifty IT slipping 0.94 percent, Nifty Pharma down 0.27 percent, and Nifty FMCG lower by 0.21 percent.

From a technical standpoint, the index continues to lack a decisive trend, with bulls and bears alternating dominance across sessions. &quot;Nifty has remained locked within a broad consolidation band of 24,500–25,000, and only a breakout beyond this corridor will spark a directional move with meaningful momentum,&quot; said Dhupesh Dhameja, of SAMCO Securities.

He added a decisive move above 24,900 could unleash meaningful short covering, paving the way for an extended rally, while a breakdown below 24,500 may trigger a fresh leg of bearish continuation. &quot;Until then, range-bound action is likely to dominate, favoring a “range trading” approach with 24,400 as the floor and 24,900 as the ceiling,&quot; he said.

Follow our market blog to catch all the live updates

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Even after GST 2.0 reforms, according to Saurabh Rungta, the CIO at Avendus Wealth Management, the reform momentum is likely to continue, whether in taxation, manufacturing incentives or deeper financial sector development.

"These incremental reforms are vital for sustaining India’s 6-7% growth trajectory and reinforcing investor confidence," he said in an interview to Moneycontrol.

He believes double-digit earnings growth looks achievable in FY27. "Banking, industrials, manufacturing-linked sectors and select consumer categories are well-positioned to deliver," he said.

Are valuations and market positioning now turning favourable for India?

While India continues to stand out as one of the most resilient equity markets globally, the last one-year’s returns pale when compared to those of global alternate opportunities like the US, emerging markets, developed markets etc. Valuations are no longer cheap, but they look more reasonable when seen in the context of India’s structural growth premium.

Domestic flows remain strong, but global investors re-engaging is required. Moreover, in the near term, markets wait for clarity on global cues, especially the Indo-US relationship, before taking a more definitive turn. However, the medium-term positioning remains favourable.

Do you strongly anticipate a healthy earnings growth of around 15–18% in the next fiscal year?

Yes, double-digit earnings growth looks achievable. Banking, industrials, manufacturing-linked sectors and select consumer categories are well-positioned to deliver. The corporate deleveraging of the last decade, stronger balance sheets, government-led capex, policy reforms including last year's tax cuts, GST reforms and Make in India drive are supporting this cycle.

While near-term global uncertainty remains, the breadth of earnings recovery across sectors will be key to provide the markets the much-required confidence.

Does the GST rate rationalisation suggest that the downside risk is now significantly limited for the market?

The GST rationalisation sends a strong positive signal, as it simplifies compliance, supports consumption and improves government revenues over the long term as volume growth starts to outpace the impact of lower rates.

Markets generally reward such policy clarity. While downside risk cannot be completely eliminated given global factors, domestic reforms like these create a cushion and reinforce India’s relative stability compared to peers.

Do you foresee a strong rebound in consumption and a bumper Diwali season following the GST rate rationalisation?

Consumption is likely to benefit, but the impact may be more visible in FY26 than immediately. Rural recovery, improved real wages and festive spending momentum will add to the optimism.

A bumper Diwali season is surely on the cards, but more importantly, GST rationalisation underpins a steady consumption recovery over multiple quarters.

Do you still expect the RBI to consider further monetary easing to mitigate the impact of tariff-related headwinds?

The RBI has balanced inflation and growth well. However, with global uncertainties, significant rate cuts are unlikely in the near term. Instead, we may see the RBI rely more on liquidity tools and targeted measures rather than broad monetary easing.

Stability rather than aggressive cuts remains the most probable stance. That said, if the US Fed cuts rates sharply, it could create some additional room for the RBI to ease.

Following the GST rate rationalisation, do you expect the government to introduce more such reforms to sustain 6–7% economic growth and boost corporate earnings?

Yes, reform momentum is likely to continue, whether in taxation, manufacturing incentives or deeper financial sector development. These incremental reforms are vital for sustaining India’s 6-7% growth trajectory and reinforcing investor confidence. Over time, such measures also deepen capital markets and broaden participation, which is essential for translating macro growth into wealth creation.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Daily Voice: Incremental reforms vital for sustaining 6-7% growth trajectory, reinforcing investor confidence, says Saurabh Rungta of Avendus

Even after GST 2.0 reforms, according to Saurabh Rungta, the CIO at Avendus Wealth Management, the reform momentum is likely to continue, whether in taxation, manufacturing incentives or deeper financial sector development.

&quot;These incremental reforms are vital for sustaining India’s 6-7% growth trajectory and reinforcing investor confidence,&quot; he said in an interview to Moneycontrol.

He believes double-digit earnings growth looks achievable in FY27. &quot;Banking, industrials, manufacturing-linked sectors and select consumer categories are well-positioned to deliver,&quot; he said.

Are valuations and market positioning now turning favourable for India?

While India continues to stand out as one of the most resilient equity markets globally, the last one-year’s returns pale when compared to those of global alternate opportunities like the US, emerging markets, developed markets etc. Valuations are no longer cheap, but they look more reasonable when seen in the context of India’s structural growth premium.

Domestic flows remain strong, but global investors re-engaging is required. Moreover, in the near term, markets wait for clarity on global cues, especially the Indo-US relationship, before taking a more definitive turn. However, the medium-term positioning remains favourable.

Do you strongly anticipate a healthy earnings growth of around 15–18% in the next fiscal year?

Yes, double-digit earnings growth looks achievable. Banking, industrials, manufacturing-linked sectors and select consumer categories are well-positioned to deliver. The corporate deleveraging of the last decade, stronger balance sheets, government-led capex, policy reforms including last year's tax cuts, GST reforms and Make in India drive are supporting this cycle.

While near-term global uncertainty remains, the breadth of earnings recovery across sectors will be key to provide the markets the much-required confidence.

Does the GST rate rationalisation suggest that the downside risk is now significantly limited for the market?

The GST rationalisation sends a strong positive signal, as it simplifies compliance, supports consumption and improves government revenues over the long term as volume growth starts to outpace the impact of lower rates.

Markets generally reward such policy clarity. While downside risk cannot be completely eliminated given global factors, domestic reforms like these create a cushion and reinforce India’s relative stability compared to peers.

Do you foresee a strong rebound in consumption and a bumper Diwali season following the GST rate rationalisation?

Consumption is likely to benefit, but the impact may be more visible in FY26 than immediately. Rural recovery, improved real wages and festive spending momentum will add to the optimism.

A bumper Diwali season is surely on the cards, but more importantly, GST rationalisation underpins a steady consumption recovery over multiple quarters.

Do you still expect the RBI to consider further monetary easing to mitigate the impact of tariff-related headwinds?

The RBI has balanced inflation and growth well. However, with global uncertainties, significant rate cuts are unlikely in the near term. Instead, we may see the RBI rely more on liquidity tools and targeted measures rather than broad monetary easing.

Stability rather than aggressive cuts remains the most probable stance. That said, if the US Fed cuts rates sharply, it could create some additional room for the RBI to ease.

Following the GST rate rationalisation, do you expect the government to introduce more such reforms to sustain 6–7% economic growth and boost corporate earnings?

Yes, reform momentum is likely to continue, whether in taxation, manufacturing incentives or deeper financial sector development. These incremental reforms are vital for sustaining India’s 6-7% growth trajectory and reinforcing investor confidence. Over time, such measures also deepen capital markets and broaden participation, which is essential for translating macro growth into wealth creation.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

9 out of 17 years SENSEX has given negative returns in September.

Type	R1	R2	R3	PP	S1	S2	S3
Classic	81,061.43	81,335.56	81,499.74	80,897.25	80,623.12	80,458.94	80,184.81
Fibonacci	81,064.68	81,168.13	81,335.56	80,897.25	80,729.82	80,626.37	80,458.94
Camarilla	80,827.48	80,867.66	80,907.84	80,897.25	80,747.12	80,706.94	80,666.76

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