Stock Market Closing, Sept 1: Nifty, Sensex Snap 3-Day Loss; What Fuelled Market Rally? Top Gainers, Losers

Stock Market Closing, Sept 1: The Indian stock market surged on Monday, September 1, with benchmark indices snapping their three-day loss today. BSE Sensex jumped around 554 points and closed at 80,364 points. Whereas Nifty 50 reclaimed its 24,600 mark and closed at 24,625.05 points.

A range of factors fuelled the stock market rally today, including upbeat gross domestic product (GDP) numbers, strong automobile sector data, positive sentiment around Goods and Services Tax (GST) proposal, and ongoing developments related to the Shanghai Cooperation Organisation (SCO) summit.

Stock Market Closing: Why Were Nifty, Sensex Rising Today? 3 Reasons Explained

Nifty 50's strong performance on Monday was supported by a rally in auto sector stocks like Bajaj Auto, M&M, Hero Motocorp, Eicher Motors, Tata Motors, etc. Other sectors like IT, fertilisers, auto ancillary, etc were also trading higher.

Automobile Data

Nearly all the automobile manufacturers reported strong August auto sales data, including M&M, Tata Motors, Bajaj Auto, etc. Bajaj Auto sales surged by around 5%, whereas its domestic sales slumped around 8% to 2.32 lakh units. The company's total exports surged around 29%.

Escorts Kubota's total tractor sales also surged by around 27% in August. Maruti Suzuki August sales fell around 0.6% to 1.81 lakh units.

India's Strong GDP Number

Outperforming experts' expectations, the Indian economy emerged as the fastest growing economy in the world in the April-June quarter of FY2025-26. India's GDP in Q1FY26 stood at 7.8%, according to the National Statistics Office data released on Friday.

India's GDP data, released by the National Statistics Office on Friday, shows that the Indian economy performed beyond experts' expectations during the quarter. Many also feared the potential impact of the US tariff uncertainty. The US-imposed 50% tariffs on Indian items came into effect on Wednesday, August 27.

GST Reforms Proposal

The Indian stock market sentiment also remained positive amid developments around the Goods and Services Tax (GST) reforms proposal. The government has reportedly proposed to reduce the GST structure to two slabs. The upcoming GST council meeting this week has further raised expectations of GST rate cuts. Experts have hinted that the proposed GST rate cuts would significantly boost the cement sector, automobiles, FMCG companies due to expected boost in consumption.

Which Stocks Were The Top Gainers Top Losers?

Most of the automobile sector stocks like M&M, Tata Motors, Bajaj Auto, etc were among the top gainers. Additionally, Zydus Wellness also surged a after the announcement to acquire Comfort Clicks. The stock zoomed around 10%. The first overseas acquisition by Zydus Wellness ended the stock 9.89% higher at Rs 2216.05 per share.

Which Stocks Were Top Laggards?

Certain pharmaceutical sector stocks and bank sector stocks remained under pressure and emerged as the top laggards. Sun Pharma, ITC, Hindustan Unilever, Titan, Cipla, L&T, HDFC Bank were among the top Nifty 50 Laggards.

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