Daily Market Commentary : Nifty Gains 135 Points on Metal Rally, GST Optimism by Siddhartha Khemka, Motilal Oswal Financial Services Ltd
Below the Quote on Daily Market Commentary for September 3rd, 2025 by Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd
Nifty ended higher by 135 points at 24,715 (+0.6%), led by a sharp rally in metal stocks and optimism around the ongoing GST council meet. Nifty Metal index gained 3.1%, aided by China’s plans to cut steel production between 2025-26 and a weaker US dollar. Broader market mirrored upbeat sentiment, extending gains from the previous session, with Nifty Midcap100 and Smallcap100 up by 0.7% and 0.9% respectively. Investors remain focused on the outcome of the 2-day GST Council meeting amidst expectations of potential rate rationalization, which could benefit key sectors such as auto, hotels, cement, and consumer durables amongst others. On the institutional front, FII selling continued with outflows of Rs1,159cr on Tuesday. Overall, we expect the Indian markets to remain range-bound, tracking global cues and sector-specific developments with policy decisions from the GST Council serving as the immediate catalyst.
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