Benchmarks end lower; broader mrkt outperforms

The key equity indices ended with moderate cuts today, despite upbeat GST collection in August. After a firm start, market mood turned cautious as profit booking and weekly expiry of F&O contract weighed on sentiment. Investors will closely monitor GST council meeting, developments on U.S. tariff measures, FII outcome. The Nifty opened on a positive note above the 24,650 mark, hit an intraday high of 24,756.10, but eventually surrendered all gains to close below the 24,600 level.

FMCG, media and metal shares advanced while private bank, auto and pharma stocks declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex declined 206.61 points or 0.26% to 80,157.88. The Nifty 50 index dropped 45.45 points or 0.18% to 24,579.60.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.27% and the S&P BSE Small-Cap index rose 0.64%.

The market breadth was strong. On the BSE 2,540 shares rose and 1,609 shares fell. A total of 143 shares were unchanged.

IPO Update:

The initial public offer (IPO) of Amanta Healthcare received bids for 12,36,30,809 shares as against 70,00,000 shares on offer, according to stock exchange data at 15:42 IST on Tuesday (2 September 2025). The issue was subscribed 17.52 times.

The issue opened for bidding on 1 September 2025 and it will close on 3 September 2025. The price band of the IPO is fixed between Rs 120 and 126 per share. An investor can bid for a minimum of 119 equity shares and in multiples thereof.

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 its 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.

Stocks in Spotlight:

Shares of sugar companies surge up to 20% after the government permitted ethanol production from sugarcane juice, syrup, and all types of molasses without any volume restrictions for the 2025-26 season. The move is expected to boost revenues for sugar firms with higher ethanol blending capacities, lifting investor sentiment across the sector.

Rajshree Sugars & Chemicals hit the upper circuit with a 20% jump, while Dhampur Sugar Mills climbed 11.11%, Shree Renuka Sugars rose 12.72%, Uttam Sugar Mills rose 1.01%, and Dwarikesh Sugar Industries advanced 12.46%. Avadh Sugar & Energy was up 5.03%, Bajaj Hindusthan Sugar gained 4.48%, Balrampur Chini Mills rose 4.61%, Praj Industries advanced 4.15%, and Triveni Engineering & Industries added 3.03%.

Hero MotoCorp rose 1.31% after the company said that it has dispatched 553,727 motorcycles and scooters in August 2025, reflecting an 8% growth compared to August 2024.

Maruti Suzuki India shed 0.17%. The companys total sales marginally shed 0.60% to 180,683 units in August 2025 as against 181,782 units sold in August 2024.

One Mobikwik Systems soared 18.63% after Abu Dhabi Investment Authority (ADIA) fully exited the digital payments provider through block deals on Monday, 1 September 2025.

According to NSE block deal data, ADIA sold 16.44 lakh shares at an average price of Rs 238.45 apiece, taking the transaction size to Rs 39.21 crore. The sale accounted for 2.10% of Mobikwiks equity, marking the sovereign wealth funds complete exit from the company as per the June 2025 shareholding pattern. The buyers included BofA Securities Europe SA, which purchased 5 lakh shares (0.64% equity) at Rs 243.61 per share, and S I Investments & Broking, which acquired 4 lakh shares (0.51% equity) at Rs 248.42 per share.

Adani Ports and Special Economic Zone (APSEZ) added 0.16%. The company reported handling 41.9 MMT of cargo in August 2025, marking an 16% year-on-year (YoY) increase, primarily driven by a 29% YoY growth in container volumes.

Puravankara rose 0.56%. The company announced the acquisition of redevelopment rights for Samrat Ashok Co-operative Housing Society, a prime residential society located in Malabar Hill, Mumbai. The acquisition was made through its wholly owned subsidiary, Purva Blue Agate. The project, spread across 1.43 acres, offers a development potential of 0.7 million square feet. The estimated revenue potential of the project stands at Rs 2,700 crore.

Paisalo Digital climbed 3.05% after the company scheduled a board committee meeting to consider fund raising through non-convertible debentures (NCDs).

Global Markets:

European market declined on Tuesday as Euro zone inflation edged higher to 2.1% in August, according to the latest flash data from statistics agency Eurostat. Core inflation, which strips out more volatile food, energy, alcohol and tobacco prices, was unchanged from 2.3% in July. The closely watched services print meanwhile was slightly lower in August, at 3.1% compared to 3.2% in July.

At 2.1%, the euro zones latest inflation rate is just slightly higher than the European Central Banks target of 2%.

Asia-Pacific markets ended mixed as investors assessed the Shanghai Cooperation Organization meeting of leaders in Tianjin, with tariff uncertainty weighing on sentiment.

This comes after a U.S. federal appeals court on Friday ruled that most of President Donald Trumps global tariffs are illegal.

South Koreas consumer price index rose 1.7% in August from the year before, after increasing by 2.1% the month before. This marks its slowest year-on-year rise since November and is marginally weaker than the 2% rise.

Australias current account balance for the April to June quarter came in at a deficit of 13.7 billion Australian dollars ($8.97 billion), compared to the AU$14.7 billion deficit the quarter before.

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