Stock Market LIVE Update: Sensex Closes Higher, Auto Stocks Lead Gains Amid Volatile Trading
Indian stock markets ended the day with modest gains on September 8, after a volatile session. The Sensex rose by 77 points to close at 80,787, while the Nifty gained 32 points to finish at 24,773. The Nifty Bank and Midcap indices also saw positive movement, up 72 points and 286 points respectively.
Auto stocks were the biggest winners, with companies like M&M, Eicher Motors, Maruti, and TVS Motor hitting record highs, supported by the recent GST rate cut. The Auto sector index jumped 3%, leading the rally. Metal stocks also gained after a Morgan Stanley upgrade, with JSW Steel rising 3%.
On the downside, the IT sector fell 1% amid concerns over US outsourcing tax news. Consumer stocks such as Trent, Asian Paints, and Nestle saw profit booking. Market breadth favored advances, with more stocks rising than falling today.
