POST-MARKET SUMMARY 4th September 2025
On September 4, the Indian equity market extended its gains for the second consecutive day, with Nifty closing above 24,700. The rally was driven by auto, FMCG and consumption stocks after the GST Council's announcement of rate rationalization. Despite a strong start, indices faced profit-booking as the day progressed but managed to finish in the green.
On Wednesday, the GST Council agreed to simplify the tax structure, reducing the GST slabs to two—5% and 18%, effective September 22. The previous 12% and 28% slabs will be eliminated.
Read more: GST 2.0 Reform 2025: Top Stocks & Sectors Benefiting from Tax Cuts
Broader indices underperformed, with the BSE Midcap and Smallcap indices declining by 0.6% each. On the sectoral front, the Auto index gained nearly 1%, FMCG rose 0.2%, while IT, media, metal, oil & gas, realty and PSU banks fell by 0.5-1%.
NIFTY: The index opened 265 points higher at 24,980, which was also the day's high, before closing at 24,734. Nifty has formed a Bearish Belt Hold on the daily chart. Its immediate resistance level is now placed at 24,840 while its immediate support is at 24,650.
BANK NIFTY: The index opened 312 points higher at 54,379 and closed at 54,075. Bank Nifty has formed a bearish candle on the daily chart. Its immediate resistance level is now placed around 54,300 while immediate support is around 53,850.
Stocks in Spotlight
▪ Bata India: Stock zoomed 7% after the GST Council reduced taxes on footwear priced under Rs 2,500 to 5%, which is expected to boost sales and market share.
▪ Mahindra & Mahindra: Stock surged 6% after the GST Council approved a tax hike on higher-end SUVs to 40%. Under the new framework, 40% of M&M’s SUV portfolio will fall under the 18% slab, while the remaining 60% will face lower tax rates.
▪ Bajaj Finance: Stock jumped 4% following the GST cut on most consumer durables. The move is expected to boost consumer purchasing power and drive demand for financing solutions.
Global News
▪ Asia-Pacific markets showed a mixed performance on Thursday, with Japan's Nikkei 225 leading the rally, supported by a tech-driven surge.
▪ Oil prices fell by 1.5% on Thursday, following a more than 2% decline in the previous session, as investors awaited an OPEC+ meeting over the weekend, where producers are expected to discuss raising output targets.
▪ Gold prices slipped to around $3,530 per ounce on Thursday, taking a breather from its record-breaking rally as investors awaited key U.S. labor reports.
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