Closing Bell: Market fails to hold on to GST cut gains; mid, smallcaps down

Indian equity indices ended with marginal gains with Nifty at 24730 on September 4. At close, the Sensex was up 150.30 or 0.19 percent at 80,718.01 and the Nifty was up 19.25 points or 0.08 percent at 24,734.30.

We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

After a promising start, the domestic market closed almost flat as profit booking emerged across the market except for consumption oriented beneficiary sectors such as Auto, Finance, and FMCG.

In-line outcome of GST rationalisation and ongoing tariff threats from the US exerted a negative impact on the market today. Given that the US is India's largest export destination, accounting for 2.2% of the GDP, the repercussions are inevitable. Companies are exploring ways to maintain exports to their existing clients through strategies like cross-country billing and setting up manufacturing units abroad. However, exports are expected to slow down and hinder new growth opportunities.

On the brighter side, the GST rate cut is expected to significantly boost domestic consumption demand, countering the adverse effects of diminished export competitiveness. Sectors such as Textiles, Equipment Manufacturers, Metals, Auto Ancillaries, Seafood, Basmati, Jewellery, IT, and Pharma are likely to experience more impact which will be mitigated by increase in domestic consumption like Durables, Discretionary, Staples, Hotels, FMCG, Electronics, and Autos.

Gold traded weak by 0.55-0.60% below USDS 3540 on COMEX and Rs 1,06,500 on MCX as minor profit booking was observed in both Gold and Silver ahead of Friday’s key Non-Farm Payrolls and employment data.

After the recent strong rally, some retracement is being witnessed in the broader uptrend, keeping the bullish structure intact. Gold has strong support at Rs 1,04,000 and resistance at Rs 1,08,000, with minor pullbacks continuing to offer buying opportunities.

Markets witnessed a volatile session and ended marginally higher, supported by sweeping GST reforms that signaled a structural tax overhaul. The Nifty opened on a strong note, led by sharp gains in auto and consumer staples, but profit-taking and weakness in select heavyweights dragged the index lower as the day progressed. Eventually, it closed with modest gains at 24,734.30. Sector-wise, auto, financials, and FMCG led the advance, while IT, energy, and realty were the notable laggards. The broader indices, however, underperformed after the recent upmove, losing over half a percent each.

The GST 2.0 reforms strengthen the case for a consumption-led recovery, with auto and consumer staples expected to benefit the most. Select metals and infrastructure names linked to rural stimulus also remain in focus. That said, the broader outlook stays vulnerable to global macro uncertainties, continued FII outflows, and persistent U.S. tariff headwinds. In the near term, consolidation in the benchmark index cannot be ruled out. Hence, we recommend maintaining selective exposure to structurally strong themes while keeping a close eye on the risk–reward equation.

The latest GST rationalisation marks a vital shift in India’s indirect tax landscape- one that balances simplification with strategic foresight. The move to a two-rate structure of 5% and 18%, with 40% for sin and luxury goods, reduces complexity and enhances predictability. Exemptions for life-saving medicines, health insurance, and school supplies reflect a strong social orientation, while lower rates on agricultural machinery and diagnostic kits support essential sectors of the economy.

The consolidation under the 18% slab provides clarity for industries such as automotive, logistics, and appliances. GST rates for MSMEs and consumer-driven businesses enhances their cost competitiveness, enabling them to better integrate into global value chains and strengthen their position in international markets. It encourages long-term capital allocation, while boosting consumption in the short term.

Beyond its immediate impact, this reform signals a maturing, reform-driven economy committed to inclusive growth and global competitiveness. This is a future-ready policy shift that enhances business confidence, strengthens fiscal sustainability, and positions India as a stable investment destination

Indian rupee ended lower at 88.15 per dollar on Thursday versus Wednesday's close of 88.07.

Indian equity indices ended with marginal gains with Nifty at 24730 on September 4.

At close, the Sensex was up 150.30 or 0.19 percent at 80,718.01 and the Nifty was up 19.25 points or 0.08 percent at 24,734.30.

M&M, Bajaj Finance, Bajaj Finserv, Apollo Hospitals, Nestle are among top gainers on the Nifty, while losers are HDFC Life, Tata Consumer, Wipro, Bharat Electronics, IndusInd Bank.

Among sectors, auto index up nearly 1 percent, FCMG index up 0.3 percent, while IT, media, metal, oil & gas, realty, power, PSU Bank down 0.5-1 percent.

BSE Midcap and smallcap indices shed 0.6 percent each.

AXISCADES Technologies' subsidiary Mistral Solutions has secured a couple of small pilot contracts. Although modest in scale, these contracts are significant, they represent engagements with two of the world’s largest hyperscalers and offer annuity revenue as well as exponential growth potential. The broad consideration of the contracts are around USD 1 million.

Axiscades Technologies was quoting at Rs 1,355.00, down Rs 15.35, or 1.12 percent.

It has touched an intraday high of Rs 1,437.00 and an intraday low of Rs 1,325.10.

It was trading with volumes of 14,722 shares, compared to its five day average of 49,132 shares, a decrease of -70.04 percent.

In the previous trading session, the share closed up 3.20 percent or Rs 42.50 at Rs 1,370.35.

The share touched a 52-week high of Rs 1,506.00 and a 52-week low of Rs 421.05 on 07 July, 2025 and 26 November, 2024, respectively.

Currently, the stock is trading 10.03 percent below its 52-week high and 221.81 percent above its 52-week low.

Market capitalisation stands at Rs 5,758.43 crore.

Indian Overseas Bank was quoting at Rs 37.79, down Rs 1.64, or 4.16 percent.

It has touched an intraday high of Rs 39.90 and an intraday low of Rs 37.74.

It was trading with volumes of 415,413 shares, compared to its five day average of 614,848 shares, a decrease of -32.44 percent.

In the previous trading session, the share closed down 1.47 percent or Rs 0.59 at Rs 39.43.

The share touched a 52-week high of Rs 61.77 and a 52-week low of Rs 33.01 on 23 September, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 38.82 percent below its 52-week high and 14.48 percent above its 52-week low.

Market capitalisation stands at Rs 72,770.65 crore.

#1 Received US FDA approval for gRisperdal Consta

#2 Second globally & first Indian generic approved

#3 Builds on prior approvals for gGlucagon & gVictoza

#4 Strengthens position in complex generics

Lupin was quoting at Rs 1,938.35, down Rs 13.30, or 0.68 percent.

It has touched an intraday high of Rs 1,967.95 and an intraday low of Rs 1,930.95.

It was trading with volumes of 8,231 shares, compared to its five day average of 8,727 shares, a decrease of -5.68 percent.

In the previous trading session, the share closed up 3.32 percent or Rs 62.70 at Rs 1,951.65.

The share touched a 52-week high of Rs 2,403.45 and a 52-week low of Rs 1,774.00 on 02 January, 2025 and 07 April, 2025, respectively.

Currently, the stock is trading 19.35 percent below its 52-week high and 9.26 percent above its 52-week low.

Market capitalisation stands at Rs 88,535.01 crore.

The company has received a Letter of Intent (LOI) from GHV (India) for the engineering and construction of integrated redevelopment of a railway station under South Eastern Railway, located in Jharkhand. The sub-contract is valued at approximately Rs 120 crore and is to be completed within three years from the commencement date.

TVS Motor Company announced the launch of the TVS NTORQ 150, India’s quickest Hyper Sport Scooter, powered by a 149.7cc race-tuned engine.

The Sensex was up 201.91 points or 0.25 percent at 80,769.62, and the Nifty was up 34.60 points or 0.14 percent at 24,749.65. About 1639 shares advanced, 2081 shares declined, and 115 shares unchanged.

The GST revamp failed to sustain cheer on Dalal Street because, while lower rates boosted initial optimism and key consumer sectors, the reforms arrived late and unevenly benefited industries. Gains in FMCG and auto stocks were offset by losses in sectors hit by higher rates, and global uncertainties weighed on overall sentiment.

Many investors saw the reforms as overdue, and broad-based optimism faded as sectoral winners and losers became clear, limiting the lasting impact on the stock market.

This week, the Rupee saw a resilient move after underperforming in the previous week. There are two biggest announcement which pushed the Rupee higher. First. The multiyear high PMI numbers and second the GST rate rationalization. Both the things have been positive for the rupee. However, the one of the biggest worries is the demand supply imbalance due to the foreign fund outflows. If FII buying stars, the rupee can find support in the coming days.

On a global side, the dollar index remained under pressure amid dismal economic data, which could push the FOMC to cut the interest rate in coming meeting. Also, the independence of the Federal reserve also under the question mark after recent comment from the US President.  So all in all, the dollar remained under pressure, which support the rupee. Also, we are seeing the crude oil prices have started weakening. So all in all, majority of the positive thing has been supporting the rupee to recoup the losses which it has in last couple of days.

The haven demand has been shifted to precious metal while Euro remained the preferred currency for the long versus dollar.

Going ahead, the weakness in the dollar index could support the rupee in the near term, we believe, the spot USDINR is expected to consolidate between 87.65 to 88.40 in the coming days.

#1 Long-term investments in MRO facility & fleet expansion

#2 Rs 0.30–0.40 per ASK cost savings from fleet, plus MRO efficiency

#3 Cash flow positive, benefits not yet priced in

#1 Driven by 23 percent CAGR in installed capacity & favourable policies

#2 100–110 GW module capacity addition may lead to oversupply

#3 Backward-integrated players benefit most

#4 Export opportunities remain despite global competition & risks

European markets were trading mixed on Thursday ahead of Key jobs report on Friday.

#1 Launched Victoris SUV on September 3

#2 Based on Grand Vitara platform, bookings open with Rs 11,000 deposit

#3 Price announcement likely post GST rationalisation decision

The Sensex was up 273.25 points or 0.34 percent at 80,840.96, and the Nifty was up 62.40 points or 0.25 percent at 24,777.45. About 1701 shares advanced, 1991 shares declined, and 115 shares unchanged.

It has touched an intraday high of Rs 155.65 and an intraday low of Rs 134.90.

It was trading with volumes of 5,465,048 shares, compared to its five day average of 115,590 shares, an increase of 4,627.95 percent.

In the previous trading session, the share closed up 4.10 percent or Rs 5.15 at Rs 130.75.

The share touched a 52-week high of Rs 225.00 and a 52-week low of Rs 110.00 on 16 October, 2024 and 07 April, 2025, respectively.

Currently, the stock is trading 31.58 percent below its 52-week high and 39.95 percent above its 52-week low.

Market capitalisation stands at Rs 5,923.21 crore.

Max Financial Services was quoting at Rs 1,560.00, down Rs 56.60, or 3.50 percent.

It has touched an intraday high of Rs 1,650.00 and an intraday low of Rs 1,560.00.

It was trading with volumes of 12,454 shares, compared to its five day average of 5,435 shares, an increase of 129.13 percent.

In the previous trading session, the share closed down 0.46 percent or Rs 7.45 at Rs 1,616.60.

The share touched a 52-week high of Rs 1,678.80 and a 52-week low of Rs 972.55 on 26 August, 2025 and 04 March, 2025, respectively.

Currently, the stock is trading 7.08 percent below its 52-week high and 60.4 percent above its 52-week low.

Market capitalisation stands at Rs 53,837.90 crore.

The company has received a Letter of Acceptance (LOA) for user fee collection on the 4-lane Greenfield Expressway spur from Delhi-Vadodara Greenfield Expressway near Bandikui to Jaipur in Rajasthan. The contract is valued at Rs 18.97 crore under the Hybrid Annuity Model.

The company board approved Sub-division/Split of existing 1 equity share of the company having face value of Rs 10 each fully paid-up, into 10 equity shares having face value of Re 1 each fully paid-up, by alteration of Capital Clause of the Memorandum of Association of the company, subject to approval of the shareholders in ensuing 23rd Annual General meeting and any other statutory/ regulatory approvals, as may be required under applicable laws.

Solar Industries has informed that an explosion incident had occurred on September 04, 2025 at 12:33 am in Crystallization Building while performing crystallization process of an energetic material in Solar Industries India Ltd, Chakdoh, Nagpur (MH).

Due to the shock impact of explosion, one person has lost his life, and eight persons were injured in areas near by this building.

At Ramasamy Raja Nagar cement plant, the company commissioned a Waste Heat Recovery System of 8 MW capacity. With this commissioning of WHR Power Plant, the overall waste heat power generation in Ramasamy Raja Nagar has gone up from 2 MW to 10 MW and our company’s overall waste heat power generating capacity has gone up from 45.15 MW to 53.15 MW.

Tata Elxsi and Evergent today announced the launch of Subscription Hub, a unified platform that redefines how media and telecom operators offer, manage and monetize subscription offerings to their customers.

#1 GST exempted for all individual life, health & savings policies

#2 Third-party insurance for goods vehicles cut to 5 percent from 12 percent

#3 Positive for customers, elasticity impact yet to be seen

#4 Uncertainty remains on input tax credit relief for insurers

#5 If relief not provided, premium may rise, reducing net benefit

Food delivery platform Swiggy has increased its platform fee to Rs 15 per order, marking the third hike in three weeks. The fee was briefly raised to Rs 14 on Independence Day, before reverting to Rs 12.

BHEL has accepted a Letter of Intent (LOI) from MB Power (Madhya Pradesh) for the supply of equipment (boiler, turbine, generator) for the 1x800 MW Anuppur Thermal Power Project. The contract is valued at Rs 2,600 crore.

Subsidiary Prestige Office Ventures has received a show cause notice from the Directorate General of Goods & Services Tax Intelligence, Hyderabad, demanding Rs 160.82 crore, along with an equivalent amount in penalty and applicable interest.

The Sensex was up 444.91 points or 0.55 percent at 81,012.62, and the Nifty was up 118.30 points or 0.48 percent at 24,833.35. About 1770 shares advanced, 1866 shares declined, and 142 shares unchanged.

The company sold 2,403 vehicles in August 2025, a 4.52% increase from 2,299 vehicles sold in the same month last year. Domestic sales grew 6.6% to 2,295 vehicles, and exports, however, dropped 26.02% to 108 vehicles in the same period.

The GST council burnt midnight oil yesterday and delivered rationalisation measures announced by PM Modi in his independence day speech. With this the government has completed a troika of fiscal and monetary stimulus. First, the income-tax cut in budget, second the interest rate cuts by RBI and third the GST rationalisation measures.

The measures announced were widely on expected lines and are likely to have a positive impact on the markets. If the tax cuts are truly passed on to the consumers then it can rekindle the animal spirit and boost consumption which can lift the GDP growth. This will also neutralise the impact of tariffs on the overall GDP.

Ambuja Cements was quoting at Rs 569.50, down Rs 4.55, or 0.79 percent.

It has touched an intraday high of Rs 595.65 and an intraday low of Rs 569.00.

It was trading with volumes of 130,513 shares, compared to its five day average of 35,283 shares, an increase of 269.90 percent.

In the previous trading session, the share closed up 1.19 percent or Rs 6.75 at Rs 574.05.

The share touched a 52-week high of Rs 643.45 and a 52-week low of Rs 452.90 on 30 September, 2024 and 21 November, 2024, respectively.

Currently, the stock is trading 11.49 percent below its 52-week high and 25.75 percent above its 52-week low.

Market capitalisation stands at Rs 140,274.88 crore.

The medical device company has signed definitive agreements to acquire a 90% stake in PendraCare Group, consisting of PendraCare Holdings and Wellinq Medical, from Wellinq Holdings B.V., at an enterprise value of Euro 18.3 million. The remaining 10% stake will be acquired in 2030, based on actual EBITDA for CY 2029. PendraCare Group develops cardiology catheter solutions.

The power transmission and distribution company has secured a repeat order from JSW Steel for 220kV Extra High Voltage (EHV) cable installation at its Dolvi plant in Maharashtra. This is the second order from the same plant after Sharika (SEL) successfully completed a previous 220kV EHV cable installation, testing, and commissioning project covering 4 km.

Gross client acquisition down 15.3% MoM & down 39.3% YoY at 0.55 million

Client base up 1.5% MoM & up 26% YoY at 33.57 million

Number of orders down 10.7% MoM & down 31.8% YoY at 109.86 million

Average daily orders up 8.1% MoM & down 24.7% YoY at 5.78 million

The company has launched a new Consultation and Advisory division, offering services across various fields including business management, financial management, human resource management, IT services, and civil and administrative services.

Aarvee Denim and Exports was quoting at Rs 180.90, up Rs 1.60, or 0.89 percent.

It has touched an intraday high of Rs 184.95 and an intraday low of Rs 180.00.

It was trading with volumes of 2,935 shares, compared to its five day average of 3,946 shares, a decrease of -25.62 percent.

In the previous trading session, the share closed down 0.86 percent or Rs 1.55 at Rs 179.30.

The share touched a 52-week high of Rs 197.00 and a 52-week low of Rs 42.01 on 21 August, 2025 and 28 October, 2024, respectively.

Currently, the stock is trading 8.17 percent below its 52-week high and 330.61 percent above its 52-week low.

Market capitalisation stands at Rs 466.08 crore.

#1 Started production of first BEV, e-Vitara, for export to over 100 countries

#2 Achieved 80 percent localisation in hybrid battery cells, invested Rs 4,200 crore with partners

#3 Launched new SUV In ICE, Hybrid & CNG variants

Indian rupee is trading lower at 88.16 per dollar versus Wednesday's close of 88.07.

#1 Long-term investments in MRO facility & fleet expansion

#2 Rs 0.30–0.40 per ASK cost savings from fleet, plus MRO efficiency

#3 Cash flow positive, benefits not yet priced in

The GST measures have been designed with macroeconomic stability and fiscal prudence at the core. They provide a fillip to consumption, support the growth construct and they also enhance ease of doing business for SMEs.

From a market perspective, the implications for bonds should remain limited, as the estimated revenue loss of Rs 480 billion for FY26 can be comfortably absorbed within the existing budgetary expenditure.

The disinflationary impact of GST cuts bodes well for monetary policy and allows RBI to keep rates lower for an extended period.

The Sensex was up 357.67 points or 0.44 percent at 80,925.38, and the Nifty was up 89 points or 0.36 percent at 24,804.05. About 1845 shares advanced, 1750 shares declined, and 134 shares unchanged.

Axis Bank was quoting at Rs 1,052.85, down Rs 1.60, or 0.15 percent.

It has touched an intraday high of Rs 1,062.35 and an intraday low of Rs 1,048.25.

It was trading with volumes of 68,823 shares, compared to its five day average of 392,931 shares, a decrease of -82.48 percent.

In the previous trading session, the share closed down 0.12 percent or Rs 1.25 at Rs 1,054.45.

The share touched a 52-week high of Rs 1,281.75 and a 52-week low of Rs 934.00 on 27 September, 2024 and 27 January, 2025, respectively.

Currently, the stock is trading 17.86 percent below its 52-week high and 12.72 percent above its 52-week low.

Market capitalisation stands at Rs 326,649.11 crore.

Industries benefiting from cut to consumption tax include Pharma, white goods, automobiles, packaged foods, toiletries etc. As we move closer to the date of implementation, it will be known how much of tax cuts are passed on to the consumer. It will also help determine the impact of tax cuts on headline inflation. The fact that there will be no additional compensation cess above 40% rate is a clear signal by the GST council to keep things simple.

The company has received a Letter of Acceptance (LOA) for user fee collection on the 4-lane Greenfield Expressway spur from Delhi-Vadodara Greenfield Expressway near Bandikui to Jaipur in Rajasthan. The contract is valued at Rs 18.97 crore under the Hybrid Annuity Model.

Highway Infrastructure was quoting at Rs 94.38, up Rs 0.14, or 0.15 percent.

It has touched an intraday high of Rs 96.88 and an intraday low of Rs 93.80.

In the previous trading session, the share closed down 0.08 percent or Rs 0.08 at Rs 94.24.

The share touched a 52-week high of Rs 134.89 and a 52-week low of Rs 87.34 on 14 August, 2025 and 28 August, 2025, respectively.

Currently, the stock is trading 30.03 percent below its 52-week high and 8.06 percent above its 52-week low.

Market capitalisation stands at Rs 676.90 crore.

The company has received a Letter of Intent (LOI) from GHV (India) for the engineering and construction of integrated redevelopment of a railway station under South Eastern Railway, located in Jharkhand. The sub-contract is valued at approximately Rs 120 crore and is to be completed within three years from the commencement date.

BlueStone Jewellery and Lifestyle, Valecha Engineering, 3B Films, Laser Diamonds, SGL Resources, and Transpact Enterprises will announce their quarterly earnings on September 4.

The Sensex was up 439.22 points or 0.55 percent at 81,006.93, and the Nifty was up 131.95 points or 0.53 percent at 24,847.00. About 1948 shares advanced, 1556 shares declined, and 157 shares unchanged.

Solar Industries has informed that an explosion incident had occurred on September 04, 2025 at 12:33 am in Crystallization Building while performing crystallization process of an energetic material in Solar Industries India Ltd, Chakdoh, Nagpur (MH).

Due to the shock impact of explosion, one person has lost his life, and eight persons were injured in areas near by this building.

Solar Industries India was quoting at Rs 13,910.45, down Rs 383.75, or 2.68 percent.

It has touched an intraday high of Rs 14,373.35 and an intraday low of Rs 13,910.45.

It was trading with volumes of 2,336 shares, compared to its five day average of 4,691 shares, a decrease of -50.20 percent.

In the previous trading session, the share closed up 1.88 percent or Rs 264.00 at Rs 14,294.20.

The share touched a 52-week high of Rs 17,805.00 and a 52-week low of Rs 8,479.30 on 30 June, 2025 and 28 February, 2025, respectively.

Currently, the stock is trading 21.87 percent below its 52-week high and 64.05 percent above its 52-week low.

Market capitalisation stands at Rs 125,875.74 crore.

SpiceJet has signed an interline agreement with Gulf Air, the national carrier of the Kingdom of Bahrain. This partnership will provide SpiceJet passengers seamless access to Gulf Air’s expansive network across the Middle East, Africa, Europe and Central Asia via Bahrain, while Gulf Air customers will gain enhanced connectivity to India through SpiceJet’s extensive domestic network.

SpiceJet was quoting at Rs 35.70, down Rs 0.10, or 0.28 percent.

It has touched an intraday high of Rs 36.53 and an intraday low of Rs 35.52.

It was trading with volumes of 3,671,020 shares, compared to its five day average of 6,230,349 shares, a decrease of -41.08 percent.

In the previous trading session, the share closed down 0.36 percent or Rs 0.13 at Rs 35.80.

The share touched a 52-week high of Rs 79.90 and a 52-week low of Rs 31.25 on 16 September, 2024 and 11 August, 2025, respectively.

Currently, the stock is trading 55.32 percent below its 52-week high and 14.24 percent above its 52-week low.

Market capitalisation stands at Rs 4,575.62 crore.

Gillette India was quoting at Rs 10,620, up Rs 501.20, or 4.95 percent.

It has touched an intraday high of Rs 10,692.85 and an intraday low of Rs 10,280.

It was trading with volumes of 1,649 shares, compared to its five day average of 661 shares, an increase of 149.40 percent.

In the previous trading session, the share closed down 0.71 percent or Rs 72.15 at Rs 10,118.80.

The share touched a 52-week high of Rs 11,505.00 and a 52-week low of Rs 7,413.00 on 15 July, 2025 and 17 February, 2025, respectively.

Currently, the stock is trading 7.69 percent below its 52-week high and 43.26 percent above its 52-week low.

Market capitalisation stands at Rs 34,605.50 crore.

#1 Received US FDA approval for gRisperdal Consta

#2 Second globally & first Indian generic approved

#3 Builds on prior approvals for gGlucagon & gVictoza

#4 Strengthens position in complex generics

Lupin was quoting at Rs 1,938.45, down Rs 13.20, or 0.68 percent. It has touched an intraday high of Rs 1,967.95 and an intraday low of Rs 1,934.20.

It was trading with volumes of 3,448 shares, compared to its five day average of 8,727 shares, a decrease of -60.49 percent.

In the previous trading session, the share closed up 3.32 percent or Rs 62.70 at Rs 1,951.65.

The share touched a 52-week high of Rs 2,403.45 and a 52-week low of Rs 1,774.00 on 02 January, 2025 and 07 April, 2025, respectively. Currently, the stock is trading 19.35 percent below its 52-week high and 9.27 percent above its 52-week low.

Market capitalisation stands at Rs 88,539.58 crore.

The GST Council’s decision to exempt life and health insurance premiums from the 18% tax is a landmark reform that directly addresses affordability—a key barrier for millions of Indians. For years, the tax burden discouraged first-time buyers from securing essential health or life cover, often delaying financial protection until it was too late. By removing this levy, the government has opened the doors for wider adoption, particularly among young earners, families in Tier-2 and Tier-3 cities, and those who are highly price-sensitive.

While insurers will need to recalibrate their models in light of the withdrawal of input tax credit, the broader impact is overwhelmingly positive. This change transforms insurance from being perceived as a discretionary expense to being viewed as a necessity, strengthening the safety net for households across the country.

India’s insurance penetration, still at around 4% compared to the global average of over 7%, highlights the urgency of policy measures like this. If coupled with greater awareness and simplified distribution, this reform could significantly narrow the protection gap, expand coverage to the underinsured, and contribute to building a healthier and financially resilient India.

The GST council has approved and reduced GST rates across automobile segments, except for more than 350 cc two-wheeler segment (GST rate has increased for above 350 cc). For Electric Vehicles , GST rates remain unchanged at 5%. Assuming a full pass-through, the on-road price reduction for two-wheelers (<350 cc), three-wheeler, commercial vehicle and tractors could be in the range of mid-to high single digit. For the passenger vehicle segment, the on-road price reduction may be low-to-high single digit, depending on models

Lower prices would likely stimulate demand recovery across segments, and the impact is expected to be more in the mass-market categories. Auto components players having higher domestic exposure will benefit from stronger OEM demand. Export dependent players will likely see limited benefits.

#1 GST cut benefits consumer companies broadly

#2 Staples to see growth & shift toward organised players

#3 Food companies like Britannia, Nestle & Tata Consumer better placed than HPC

#4 Retailers & discretionary players like DMart, Vishal & Page offer sustainable growth

#5 Since August 15, staples have outperformed while discretionary stocks lagged

Asian equities slowed their advance as a selloff in Chinese stocks intensified, eroding earlier optimism about Federal Reserve policy easing after weak US job openings data.

#1 GST Council approved two-tier structure: 5 percent & 18 percent, effective September 22

#2 FMCG products like toothpaste, soap & food items moved to 5 percent from 12-18 percent

#3 Estimate 6-11 percent reduction in consumer prices

#4 Positive for FMCG demand, food & HPC products benefit most

#5 Top Beneficiaries: Britannia & Colgate with near-complete portfolio coverage

#6 QSR & alcoholic beverages also gain from input tax reductions, as they don’t receive input credit

Technology solutions provider Redington has announced a strategic distribution agreement with CrowdStrike to bring the AI-native CrowdStrike Falcon platform to its customers and partners across India. This partnership aims to expand Redington’s channel reach and strengthen CrowdStrike’s regional ecosystem.

Redington was quoting at Rs 240.90, up Rs 3.50, or 1.47 percent.

It has touched an intraday high of Rs 243.00 and an intraday low of Rs 238.10.

It was trading with volumes of 34,435 shares, compared to its five day average of 66,181 shares, a decrease of -47.97 percent.

In the previous trading session, the share closed down 1.23 percent or Rs 2.95 at Rs 237.40.

The share touched a 52-week high of Rs 334.90 and a 52-week low of Rs 159.10 on 30 June, 2025 and 25 October, 2024, respectively.

Currently, the stock is trading 28.07 percent below its 52-week high and 51.41 percent above its 52-week low.

Market capitalisation stands at Rs 18,832.95 crore.

Indian Energy Exchange achieved monthly electricity traded volume (inclusive of TRAS) of 11,803 MU in August ’25, marking an 18.9% increase on year-on-year basis.

The Day-Ahead Market (DAM) including HPDAM achieved 4,797 MU volume in August’25 as compared to 4,666 MU volume in August’24, increase of 3% YoY.

Indian Energy Exchange was quoting at Rs 143.40, up Rs 1.40, or 0.99 percent.

It has touched an intraday high of Rs 144.30 and an intraday low of Rs 142.00.

It was trading with volumes of 63,900 shares, compared to its five day average of 202,603 shares, a decrease of -68.46 percent.

In the previous trading session, the share closed up 0.60 percent or Rs 0.85 at Rs 142.

The share touched a 52-week high of Rs 244.35 and a 52-week low of Rs 130.35 on 24 September, 2024 and 07 August, 2025, respectively.

Currently, the stock is trading 41.31 percent below its 52-week high and 10.01 percent above its 52-week low.

Market capitalisation stands at Rs 12,786.87 crore.

AXISCADES Technologies' subsidiary Mistral Solutions has secured a couple of small pilot contracts. Although modest in scale, these contracts are significant, they represent engagements with two of the world’s largest hyperscalers and offer annuity revenue as well as exponential growth potential. The broad consideration of the contracts are around USD 1 million.

Axiscades Technologies was quoting at Rs 1,374.00, up Rs 3.65, or 0.27 percent.

It has touched an intraday high of Rs 1,437.00 and an intraday low of Rs 1,325.10.

It was trading with volumes of 7,108 shares, compared to its five day average of 49,132 shares, a decrease of -85.53 percent.

In the previous trading session, the share closed up 3.20 percent or Rs 42.50 at Rs 1,370.35.

The share touched a 52-week high of Rs 1,506.00 and a 52-week low of Rs 421.05 on 07 July, 2025 and 26 November, 2024, respectively.

Currently, the stock is trading 8.76 percent below its 52-week high and 226.33 percent above its 52-week low.

Market capitalisation stands at Rs 5,839.18 crore.

Gross client acquisition down 15.3% MoM & down 39.3% YoY at 0.55 million

Client base up 1.5% MoM & up 26% YoY at 33.57 million

Number of orders down 10.7% MoM & down 31.8% YoY at 109.86 million

Average daily orders up 8.1% MoM & down 24.7% YoY at 5.78 million

Angel One was quoting at Rs 2,307.85, up Rs 36.40, or 1.60 percent.

It has touched an intraday high of Rs 2,337.75 and an intraday low of Rs 2,284.70.

It was trading with volumes of 14,562 shares, compared to its five day average of 33,853 shares, a decrease of -56.98 percent.

In the previous trading session, the share closed down 0.26 percent or Rs 5.85 at Rs 2,271.45.

The share touched a 52-week high of Rs 3,502.60 and a 52-week low of Rs 1,942.00 on 09 December, 2024 and 13 March, 2025, respectively.

Currently, the stock is trading 34.11 percent below its 52-week high and 18.84 percent above its 52-week low.

Market capitalisation stands at Rs 20,924.95 crore.

The Sensex was up 632.97 points or 0.79 percent at 81,200.68, and the Nifty was up 187.65 points or 0.76 percent at 24,902.70. About 2240 shares advanced, 1040 shares declined, and 160 shares unchanged.