Benchmarks trade with minor gains; metal shares shine for 2nd day
Metal shares jumped for the second consecutive trading session.
At 11:25 IST, the barometer index, the S&P BSE Sensex gained 177.56 points or 0.22% to 80,887.90. The Nifty 50 index rose 63.10 points or 0.25% to 24,802.15.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.58% and the S&P BSE Small-Cap index jumped 0.49%.
The market breadth was strong. On the BSE, 2,379 shares rose and 1,579 shares fell. A total of 227 shares were unchanged.
Buzzing Index:
The Nifty Metal index advanced 1.17% to 9,749.45. The index jumped 1.38% for the two trading sessions.
Steel Authority of India (up 2.84%), JSW Steel (up 2.8%), Tata Steel (up 2.07%), Adani Enterprises (up 1.57%), National Aluminium Company (up 1.29%), Jindal Steel (up 1.28%), Lloyds Metals & Energy (up 0.92%), Welspun Corp (up 0.9%), APL Apollo Tubes (up 0.8%) and Hindustan Copper (up 0.57%) surged.
Stocks in Spotlight:
Aurobindo Pharma rose 0.17%. The company announced that the United States Food and Drug Administration (USFDA) has completed an inspection of its Unit-XII manufacturing facility at Bachupally, Telangana. At the conclusion, the USFDA issued a Form 483 citing eight procedural observations.
Spicejet declined 3.37% after the airline company reported a standalone net loss of Rs 235.08 crore in Q1 FY26 compared with net profit of Rs 149.95 crore in Q1 FY25. Revenue from operations tumbled 34% YoY to Rs 1,033.36 crore in Q1 June 2025.
Global market:
Most Asian markets advanced on Monday as investors keeping an eye on important regional data releases scheduled this week.
Japanese Prime Minister Shigeru Ishiba resigned on Sunday, ushering in a potentially lengthy period of policy uncertainty at a shaky moment for the world's fourth-largest economy.
As per reports, Koizumi Shinjiro, the agricultural minister and son of a former prime minister, is a likely contender to take the helm. Meanwhile, Takaichi Sanae, protege of the late Prime Minister Abe Shinzo and a runner-up in last year?s party contest, is also a key contender, the reports added.
Japan?s economy grew at a much stronger pace than earlier estimated in the second quarter, supported by upward revisions in private consumption and inventories. Revised data from the Cabinet Office on Monday showed GDP expanding at an annualized 2.2% in the April?June period, up from the 1.0% reported on 15 August 2025. On a quarterly basis, growth was revised to 0.5% from the initial 0.3%.
Oil prices were in focus after OPEC+ announced over the weekend it will lift oil production again starting in October, though the group is slowing the pace of hikes. In an meeting on Sunday, eight OPEC+ members agreed to lift production by 137,000 barrels a day starting in October, far below the increases of around 555,000 bpd in September and August, and 411,000 bpd in July and June.
Last Friday in the U.S., all three major averages closed lower after a weaker-than-expected jobs report gave way to worries about a slowing economy, even as expectations for a Federal Reserve rate cut were solidified.
The S&P 500 finished down 0.32% at 6,481.50, while the Nasdaq Composite declined 0.03% to settle at 21,700.39. The Dow Jones Industrial Average closed down 220.43 points, or 0.48%, at 45,400.86.
The U.S. job growth slowed sharply in August, pushing the unemployment rate to 4.3%?its highest level in nearly four years. The data underscored the softening labor market and strengthened expectations for a Federal Reserve rate cut later this month.
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