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Sensex concluded the trading day with a gain of 409.8 points (+0.51%), closing at 80,567.7. Meanwhile, the Nifty 50 rose 135.5 points (+0.55%) to end at 24,715.1.
Metals led the sectoral charge, with the Nifty Metal index jumping around 2.9-3%, driven by optimism over China’s steel output cuts and supportive domestic policy tailwinds
Banking and auto stocks also gained, aided by expectations of GST rate rationalization.
The IT sector lagged, with a 0.7% drop, pressured by poor U.S. manufacturing data.
Stock in News:
Prataap Snacks: The shares jumped nearly 3 percent on September 3 after a report said that its key shareholders like Authum Investments and ace investor Madhusudan Kela’s family are exploring options to exit the Indore-based snacks-maker.
Kalyan Jewellers: The shares gained more than 2 percent on September 3 after a report said that international private equity firm Warburg Pincus is in discussions with the jewellery-maker to buy some stake in its lifestyle brand Candere.
Indus Towers: Shares of telecommunications company Indus Towers Ltd sank four percent in trade on Wednesday, September 3, after the firm’s board gave its nod for a foray into the African markets, which will mark the first-ever overseas expansion of Indus Towers.
Yes Bank: Shares of Yes Bank jumped 2 percent to Rs 20 on September 3 after the Competition Commission of India (CCI) cleared Japan’s Sumitomo Mitsui Banking Corporation’s (SMBC) proposal to acquire up to 24.99 percent stake in the private lender.
Syrma SGS: Shares of EMS company Syrma SGS are sharply higher by 5 percent in trade on September 3, a day after announcing a joint venture with Italy’s electronics design and manufacturing firm Elemaster to set up a dedicated facility for customers across railway, industrial and medical electronics segment.