Market sentiment received a major lift after U.S. President Donald Trump termed India a “special partner” and downplayed tariff-related tensions; Indian equities advanced on Monday, buoyed by a mix of strong global cues, easing trade concerns, and sectoral tailwinds.
Shrikant Chouhan,
Head – Equity Research,
Kotak Securities
Mumbai, September 8, 2025: Today, the benchmark indices witnessed profit booking at higher levels. The Nifty ended 25 points higher, while the Sensex was up by 150 points. Among sectors, the Technology index lost the most, shed over 1.70 percent, whereas the Auto index gained nearly 1 percent. Technically, after a gap-up opening, the market has consistently witnessed buying pressure at lower levels, however, in the second half we saw a quick and sharp sell-off in the market, which was unexpected.
On daily charts, it has formed an indecisive candlestick formation, which indicates an indecisiveness between bulls and bears. We are of the view that the short-term market outlook would remain volatile; however, a fresh uptrend rally is possible only after crossing the 24,900/81200 level. Above this, the market could move up to 25,000/81500. Further upside may also continue, potentially lifting the index up to 25,100/81800. On the downside, 24,650/80500 and 24,600/80300 are key support zones for day traders. If the index falls below 24,600/80300, then index might fall to 24500/80000 or 24450/79800 levels in the short term.
Gaurav Garg, Lemonn Markets Desk, adds: "Indian equities advanced on Monday, buoyed by a mix of strong global cues, easing trade concerns, and sectoral tailwinds. At 2:30 p.m., the Sensex climbed 444 points to 81,154, while the Nifty rose 134 points to 24,875. Tata Motors, M&M, JSW Steel, Bajaj Auto, and Tata Steel led the charge, gaining up to 3 percent. Market sentiment received a major lift after U.S. President Donald Trump termed India a “special partner” and downplayed tariff-related tensions, remarks that Prime Minister Narendra Modi warmly reciprocated. The exchange raised hopes of improved diplomatic and trade ties at a time when investors were jittery about recent tariff announcements.
Global market momentum also aided the rally, with Asian indices including Nikkei, Kospi, Shanghai Composite, and Hang Seng trading in the green, while U.S. futures pointed to a firm Wall Street opening. Optimism over GST rate cuts continued to fuel buying interest, especially in autos and consumer durables, as investors bet on a demand surge post-September 22 when new rates take effect. Auto stocks rallied with Bharat Forge and Ashok Leyland up nearly 4 percent each, while the Nifty Auto index gained over 1.5 percent. Metals too shone after Morgan Stanley upgraded its outlook on steel, citing improved demand and global tailwinds. Meanwhile, hopes of a Fed rate cut later this month added to the risk-on mood. Technically, a sustained move above 24,870 could pave the way towards 25,400, while 24,500 remains a crucial support level."
