Nifty, Sensex open higher on robust GDP data, IT index surged more than 1 per cent - World News Network

Mumbai (Maharashtra) [India], September 1 (ANI): Indian stock markets opened with gains on Monday as strong first quarter GDP numbers boosted investor confidence.
The Nifty 50 index opened at 24,490.70, higher by 63.65 points or 0.26 per cent, while the BSE Sensex began the day at 80,051.81, up by 242.16 points or 0.30 per cent.
Market experts noted that the positive GDP data and a recent U.S. court ruling declaring Trump’s tariffs unconstitutional supported investor sentiment. However, concerns continue to weigh on the market.
Banking and market expert Ajay Bagga told ANI, “September seasonality is not positive, but Indian markets may show some September surprise. Huge FPI outflows, underwhelming corporate earnings, fragile sentiment on the back of punitive Trump tariffs of 50 per cent all contributed to a second successive negative month for Indian markets. September seasonality makes us pessimistic, but markets rarely perform as per predictions.”
He further highlighted, “Starting September, which is seasonally one of the weakest months for global markets, India has a small booster in the form of April-June quarterly GDP numbers coming in very robust at 7.8 per cent YoY growth.”
Broader market indices on the NSE also reflected positive momentum. The Nifty 100 rose by 0.33 per cent, Nifty Midcap 100 gained 0.68 per cent, and Nifty Small Cap 100 was up 0.44 per cent.
Sectoral performance was mixed, with Nifty Auto advancing 0.46 per cent, Nifty IT surging more than 1 per cent, Nifty PSU Bank up 0.57 per cent, and Nifty Consumer Durables gaining 0.62 per cent. However, FMCG stocks traded in the red, slipping 0.02 per cent.
On the global front, the U.S. Federal Appeals Court ruled Trump tariffs as unconstitutional, observing that tariff-levying powers rest with the U.S. Congress and not the Executive.
However, the court kept tariffs in place till October 14 to allow the Trump administration to challenge the verdict in the U.S. Supreme Court.
Meanwhile, U.S. Q2 GDP was revised upwards to 3.3 per cent, with the Atlanta Fed projecting Q3 GDP at 3.5 per cent. Analysts said strong consumer spending and rising inflation reduce the monetary case for a Federal Reserve rate cut, and any move under political pressure may be negatively viewed by investors.
Technical outlook for Indian markets remains cautious. Sunil Gurjar, SEBI-registered analyst and founder of Alphamojo Financial Services, said, “Nifty 50 last week opened with a Doji candle and then witnessed back-to-back breakdowns below support, signaling a continuation of the downtrend. The sector is currently trading below all short-term moving averages, with the price hovering near the 200-EMA. A breakdown below this level would further confirm a strong downtrend, with 23,850 acting as a key support zone.”
The other Asian markets showed a mixed trend. Japan’s Nikkei 225 fell over 2 per cent, Taiwan’s Weighted Index slipped 1.12 per cent, South Korea’s KOSPI was down more than 1 per cent, and Singapore’s Straits Times dropped 0.14 per cent.
In contrast, Hong Kong’s Hang Seng gained 1.85 per cent, while China’s Shanghai Composite edged up 0.12 per cent at the time of reporting. (ANI)

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