Market Opening Bell: Nifty Set to Begin September on a Positive Note; GDP Data Hits 5-Month High

Indian equities are set to begin the new month and week on a positive note as the GIFT Nifty trades 49 points higher, signaling a strong start for Dalal Street. Today marks not only the first trading session of September but also comes on the back of crucial macroeconomic and global developments.

Asian Markets Show Mixed Cues

Global sentiment remained mixed this morning. Japan’s Nikkei index slipped over 2%, reflecting weakness in Asian equities, while other regional markets traded in the green, offering some support.

Strong Opening Expected for Nifty

The GIFT Nifty is currently hovering near 24,600, which is around 150 points above the previous close. On Friday, the Nifty 50 ended 74 points lower at 24,426, while Bank Nifty added 165 points to close at 53,655. Both indices remain close to their crucial 200-day EMA support levels, keeping traders cautious.

GDP Data at 5-Month High

A key positive for the markets is India’s GDP growth data, which came in at a five-month high, reflecting resilience in the economy despite global headwinds. Analysts believe this could improve investor sentiment in the near term.

Global Spotlight: US Tariff Ruling

On the global front, a US judicial body has termed former President Donald Trump’s worldwide tariff impositions as “illegal.” While the tariffs have not been revoked yet, experts believe the scope for further tariff hikes is largely over. This development may provide some relief to global trade sentiment.

Reliance AGM Takeaways

Reliance Industries was in focus last week as investors reacted to the Annual General Meeting (AGM). Contrary to market expectations of a Jio demerger, the company announced plans for a fresh Jio IPO in 2026, which led to some disappointment. Reliance shares fell around 2% post the announcement.

Key Movers in Previous Session

Gainers: ITC (+2%), BL Electricals (+0.5%), Sam Finance (+1.5%), Trent (among top gainers in F&O)
Losers: M&M (-3%), Reliance (-2%), Infosys (-2%), Apollo Hospitals (-1.5%)

Commodities & Currency Update

Crude Oil: Flat in early trade
Natural Gas: Up around 1% in the last session
Gold & Silver: Both precious metals are showing strong momentum. Gold has broken out of its three-month trading range, while silver is close to a breakout level.
Currency: The Indian Rupee continues to struggle, hitting a lifetime low beyond ₹88 per US dollar. The weakness against the USD, Euro, GBP, and Yen could weigh on import costs but may benefit certain export sectors.

Corporate Updates to Watch

Torrent Power: Plans ₹2,200 crore investment in two 800 MW super-critical power plants under DBFOT model.
NCC: Secured water management contracts worth ₹788 crore.
PGEL: Signed ₹1,000 crore MoU with Maharashtra government for a new electronics manufacturing facility.
BEML: Won ₹80 crore order from Indian Railways.
Popular Vehicles: Received in-principle approval for a new Maruti dealership in Telangana.
Newgen Chemicals: Announced JV with Japan’s Morita Chemicals for lithium-ion battery manufacturing.
Aurobindo Pharma: Received 5 USFDA observations (not major in nature).

Institutional Flow & Volatility

FII Activity: Sold equities worth over ₹8,000 crore in the last session.
DII Activity: Bought equities worth over ₹10,000 crore, largely supported by domestic mutual fund inflows.
VIX: India VIX cooled down to 11.75 from 12.18, reflecting lower volatility expectations.
PCR (Put Call Ratio): Stood at 0.71, suggesting limited immediate short-covering potential.

Outlook for the Day

With global cues mixed but domestic macros supportive, traders expect some short covering in Nifty and Bank Nifty. Key support levels remain around 24,400 for Nifty and 53,500 for Bank Nifty. A sustained move above 24,600 may trigger further momentum.

✅ Disclaimer: This article is for informational purposes only and not investment advice. Investors should consult financial experts before making any trading or investment decisions.