Stock Market Today: Indices Hold Gains, IT Stocks Lead

 IT stocks lead the rally with Infosys jumping over 3% on buyback buzz

The Indian stock market begins the day with strong momentum. Both the Sensex and the Nifty 50 open higher and hold on to their gains through the morning. The Nifty 50 trades above 24,850 and touches around 24,860. This is about 87 points higher than the previous close, which means a rise of around 0.35 percent. The BSE Sensex also shows strength, moving up by over 300 points. It trades near 81,087.75, which represents a gain of around 0.37 percent.

The positive open comes in line with expectations. Futures trading on the Gift Nifty also supports this trend, with levels around 24,940 to 24,950 indicating optimism among traders. The numbers show that market participants expect a stable and upward session, backed by supportive domestic and global factors.

Early Trade and Market Breadth

In the first hour of trade, indices maintain their strength. At 9:15 in the morning, the Nifty 50 records 24,864.1, while the Sensex stands at 81,129.69. Both indices are up nearly 0.4 percent from their last close. During the session, the Sensex rose as much as 366 points. The Nifty reached a session high of 24,874.50 before moving to 24,859.95. The advance is supported by gains in IT stocks and select financial names.

Market breadth also looks supportive. Mid-cap and small-cap stocks show modest increases of around 0.2 to 0.3 percent. This indicates that buying is not limited to the big names but spreads across sectors. In total, all 16 major sectoral indices trade in the green, showing that the current rally is broad-based.

Why the Market is Rising

Several key factors are driving the market upward. First, expectations of a rate cut from the US Federal Reserve later this month add to the bullish mood. Softer US jobs data increases confidence that a rate cut is on the way, making emerging markets such as India more attractive.

Second, Infosys becomes the star performer of the day. The company’s shares rise sharply, by around 3.65 percent, to reach an intraday high of Rs. 1,485. The reason is the upcoming board meeting on September 11, where a share buyback proposal will be discussed. The buyback expectation fuels demand for the stock and lifts the entire IT sector.

Third, there is optimism linked to possible Goods and Services Tax cuts in India and steel reforms in China. Both these moves are expected to support corporate earnings and industrial demand. Finally, the overall global market sentiment remains supportive. Most Asian markets trade higher, providing a positive backdrop for Indian equities.

Key Stock Movers

Infosys leads the pack of gainers with its sharp rise. Other technology names also perform strongly. Tech Mahindra, HCL Technologies, and L&T move up by around 1 to 1.5 percent each. HDFC Bank also adds strength to the index with gains during the morning trade. As a result, the Nifty IT index climbs between 1.3 and 2 percent, making IT the best-performing sector of the day.

Another notable mover is RailTel. The company’s stock rises nearly 5 percent after it secures work orders worth Rs. 713.52 crore from the Bihar Education Project Council. This news attracts buyers to the counter and highlights the demand for government-related contracts.

Beyond equities, commodities show major moves. Gold futures set a new record by crossing Rs. 1,10,000 per 10 grams in the domestic market. This sharp increase underlines the global appetite for safe-haven assets at a time when central bank actions remain in focus.

Currency and Commodity Influence

The rupee also supports the market mood. It strengthened by 14 paise to trade at around Rs. 87.95 against the US dollar. A stronger rupee lowers import costs, particularly for crude oil and other commodities, which is positive for the overall economy.

On the commodity side, apart from gold, crude oil prices remain a key factor that investors watch. Global energy prices are critical for India, given its dependence on imports. For the moment, crude does not show alarming spikes, allowing equity markets to focus on positive factors.

Previous Session Recap

The positive tone today follows a decent close in the last session on September 8. On that day, the Nifty 50 ended at 24,773.15, up by 0.13 percent. The Sensex gained 76 points to finish at 80,787.3. Sectors such as automobiles and metals contributed the most, with auto stocks rising by nearly 3 percent.

HDFC Bank performed steadily in the previous session, gaining 0.30 percent to close at Rs. 965.75. On the other hand, Bharti Airtel declined by 0.49 percent, ending at Rs. 1,887.10. These mixed stock moves kept overall sentiment balanced but did not stop benchmarks from closing slightly higher.

Factors to Watch Going Forward

Looking beyond today’s trading, investors remain alert to several upcoming events. Inflation data, both domestic and international, is expected soon. The numbers will play a crucial role in shaping central bank policies and investor confidence.

Movements in crude oil prices and the rupee-dollar exchange rate also stay in focus. A weaker rupee or a spike in crude could put pressure on corporate margins and push inflation higher. At the same time, any reforms announced in taxation or industrial policy can act as a positive trigger.

Corporate actions also influence market direction. The Infosys buyback decision is a near-term highlight, while other companies may announce order wins or board decisions that impact their share prices.

The Larger Outlook

At present, the Indian stock market displays strong resilience and optimism. Gains are spread across sectors, with IT stocks leading the rally. Support from global markets, a stronger rupee, and hopes of supportive policies help maintain the upward direction.

While the market enjoys a bullish start, investors also remain cautious. Inflation data, currency moves, and international factors will guide sentiment in the coming sessions. However, the current momentum shows that Indian equities are positioned firmly on a positive path.//