Share Market Today 8 September: On Monday, Indian stock indices began trading positively, influenced by strong global signals and investor confidence in the potential enhancement of US-India relations under the leadership of Trump and Modi.
At the opening bell, the Nifty 50 gained 61.60 points or 0.25 per cent to 24,802.60, while the Sensex surged 189.63 points or 0.23 per cent to 80,900.39.
Market sentiment was also buoyed by a subdued US jobs report, which has strengthened expectations of a US Federal Reserve rate cut in the upcoming September 17 meeting.
Banking and market expert Ajay Bagga told ANI that optimism on bilateral ties and expectations of monetary easing in the US are driving early trade.
“Hopes for improvement in Trump admin and Modi government relations are the dominant theme today. There are plenty of global cues impacting markets. The subdued US jobs report makes a rate cut by the Fed on Sep 17 a certainty. There is a growing call for a jumbo rate cut of 50 bps,” Bagga said.
He further highlighted political developments in Japan, where Prime Minister Ishiba stepped down, citing pressure over the unpopular US trade deal. “Yen is down while Japanese stocks are rallying,” he added.
In domestic markets, broader indices on the NSE mirrored the upbeat trend. The Nifty 100 index rose 0.26 per cent, Nifty Midcap 100 added 0.34 per cent, and Nifty Smallcap 100 gained 0.32 per cent in early trade.
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Sectoral indices also opened on a strong footing. Nifty Auto jumped 0.45 per cent, while Nifty FMCG inched up 0.07 per cent, Nifty IT rose 0.31 per cent, Nifty Metal surged 0.42 per cent, and Nifty PSU Bank gained 0.28 per cent.
Sunil Gurjar, SEBI-registered analyst and Founder of Alphamojo Financial Services, said the Nifty 50 continues to show resilience despite short-term technical challenges. “The Nifty 50 performed well last week, surging by 314 points. Technically, the price is trading below all short-term moving averages, which signals potential short-term weakness. The 25,300 level is acting as strong resistance, and a breakout above it would confirm a continuation of the uptrend in the sector,” Gurjar said.
At the same time, international elements affected investor sentiment. Korean media showed images of Koreans in handcuffs and shackles being detained during the largest US anti-immigration operation at a Hyundai-LG Energy battery plant under construction in Georgia, sparking domestic outrage in South Korea.
Reports indicated that companies issued travel advisories recommending employees to avoid non-essential travel to the US. Across Asia, stock indices rose in morning trading. Japan’s Nikkei 225 climbed over 1.5 percent, Hong Kong’s Hang Seng increased by 0.32 percent, South Korea’s KOSPI went up by 0.2 percent, and Taiwan’s Weighted Index rose by 0.41 percent. However, Singapore’s Straits Times remained mostly unchanged, dipping slightly by 0.05 percent at the time this report was filed.
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