Stock Market Today: Indian Equity Benchmarks Rally
The Indian stock market bounced back on Monday, 1 September, with key benchmarks the Sensex and Nifty 50 snapping a three-session losing streak. Widespread buying across sectors fuelled the rally.
Sensex and Nifty 50 Performance
The Sensex surged by 555 points (0.70%) to close at 80,364.49. The broader Nifty 50 also posted strong gains, climbing 198 points (0.81%) to end the day at 24,625.05.
Mid and Small-Cap Segments
Outperforming the main indices, the mid and small-cap segments saw even sharper gains. The BSE Midcap index jumped 1.64%, while the BSE Smallcap index rose 1.49%.
Expert Stock Recommendations
Market expert Raja Venkatraman has released his top stock recommendations for investors seeking opportunities today, 2 September. His analysis provides a clear roadmap for navigating the current market landscape with confidence.
Deccan Cements Ltd
Buy above ₹1075 and dips to ₹1050, stop loss ₹1040, target ₹1175-1200. After spending a lot of time in consolidation, the Deccan Cements stock corrected sharply and broke the recent supports to test the cloud support, suggesting that the trends could now revive.
Ashapura Minechem Ltd
Buy above ₹543 and dips to ₹520, stop loss ₹500, target price ₹590-615. Ashapura Minechem has found strong support and has been steadily inching higher, after witnessing profit booking for more than a month.
Mold-Tek Packaging Ltd
Buy above ₹816 and dips to ₹795, stop loss ₹780, target price ₹885-905. Mold-Tek Packaging is a leading rigid plastic packaging manufacturing company that is witnessing some strong tailwind.
Outlook for Trading
As markets remain muted, triggered by geopolitical tensions, the market tested our resilience last Friday but did not give up the lower support zone around 24500-24400. The last 1 month, the 500-point range is stifling the market sentiment with every rally witnessing a sell-off.
Conclusion
Indian equity benchmarks rallied on Monday, 1 September, fuelled by positive Q1 GDP data and renewed buying interest. The Nifty 50 gained 0.81% to close at 24,625.05, while the Sensex surged 0.70% to 80,364.49, snapping a three-day losing streak.