The Indian stock market is expected to start on a positive note on Thursday (September 3), potentially snapping its declining streak, as indicated by GIFT Nifty trading 0.5 per cent higher at 24,092.50 as of 7:50 am IST. According to reports from ET Now, GIFT Nifty serves as a pre-market indicator for the Nifty 50 and often signals whether the benchmark index is likely to open higher, lower or flat based on global market cues. This positive opening sentiment comes after the market's decline on September 2, when the BSE Sensex fell 373.93 points to 76,570.35 and the NSE Nifty slumped 141.35 points to 23,914.45.
Ahead of the trading session, Lokesh Sethia, founder at SR Wealth Research, has recommended several stocks that could potentially be bought during Thursday's trading session. As reported by ET Now, the top picks include SAIL with a share price target of ₹192 and target prices of ₹205 and ₹211, and Finolex Chemical with a share price target of ₹44 and target prices of ₹62 and ₹65. These recommendations come as the market seeks to recover from recent selling pressure that dragged auto, IT and banking shares.
Asian markets traded mixed amid ongoing global concerns, with Japan's Nikkei 225 ticking higher at 64,380 while South Korea's KOSPI traded 1.3 per cent lower at 6,645.49. According to ET Now, Hong Kong's Hang Seng gained 0.4 per cent to 25,402 and China's Shanghai Composite traded 0.5 per cent lower at 3,960.32. This mixed performance across Asian markets reflects the ongoing global uncertainties affecting regional equity markets.
The market's recovery attempt comes after the BSE Sensex fell 373.93 points, or 0.49 per cent, to end at 76,570.35 on September 2, dragged by selling in auto, IT and banking shares. As reported by ET Now, during the day, the Sensex tumbled 808.56 points, or 1.05 per cent, to 76,135.72. The NSE Nifty slumped 141.35 points, or 0.59 per cent, to end at 23,914.45, with the index moving between a high of 23,914.45 and a low of 23,786.80 during the trading session.
On the BSE, Adani Ports, Power Grid, NTPC, Titan, ITC, Reliance, Trent, Bajaj Finance and L&T were among the top gainers during the previous session, while Infosys, M&M, Tech Mahindra, SBI, ICICI Bank, Axis Bank, Eternal, IndiGo and Tata Steel were among the top drags. According to ET Now, this divergence in performance across sectors reflects the selective nature of the current market movement, with infrastructure and consumer-focused stocks outperforming technology and banking sectors.
