Sensex jumps over 200 pt, Nifty above 24,650 ahead of the GST Council Meet

–Before the September GST Council meeting, the Sensex was rallying for the second consecutive day on Tuesday while the Nifty was approaching 24,700-level. Shares of the Index Heavyweight Reliance Industries (RIL) were rally of 1.5% as the brokerage is excited about the possibility of growth of a company led by Mukesh Ambani.

At 9:37 am, the Sensex trades at 204.42 points or 0.25% 80,568, while the Nifty rose 50 66 points to 24,691.

Today’s session will be the first where the Nifty 50 will see the weekly derivative expiry on Thursday, as the kicking of the expiration dates will be switched from September.

With both MIDCap index trading in red, the mood was widespread in the market, but some purchases were seen in the Smallic APP. In the fields, IT, auto, metal, bank and pharma show weakness, while FMCG, media, realty and consumer durables saw strength.

Supreme Court has increased between 10-20% of sugar stocks like Rajashree Sugar, Shri Renuka Sugar, Uttam Sugar and Dhampur Sugar Mils after the Supreme Court refused to entertain the petition against 20% ethanol-mixed petrol rollout across the country. The 2025-26 marketing year, which started in November, also issued a notification allowing sugar mills and distilleries to produce ethanol without any quantitative restriction.

In the currency market, the Indian rupee reached 6 Peace 88.16 against the US Dollar Lur in the early Tuesday, as traders on September 5. Nonfarm payrolls pay attention to data and US tariff rulings.

Expert

Technical analysts say that as long as the market trades above 24,400/79,700, the pullback formation is likely to continue.

“On the sidewalk, it can bounce back to a 20-day SMA (easy moving average), which is at 24,700/80,500 or 24750/80700. The uptrend can continue more, carry the market at 24,850/81,000. Resistance on 24400, “said Srikanth Chauhan.

Global markets

Traders have some key from the Mother Market, which was closed overnight for a labor day holiday. Japan’s Nikki 2225 index was up 0.3% while Hong Kong’s hang Seng was down 0.65%.

The Dollar Ler Index, which measures the US currency against six others, was at 97.717, moving near a five -week low on Monday. Gold prices rose above $ 3,500 on Tuesday, as investors discovered safe shelters facing global economic uncertainty.

Fii/dii tracker

FIIs on Monday paid Rs. An equity of Rs 1,430 crore was sold, while the DII provided strong support with a net purchase of Rs 4,345 crore. So far for 2025, FIIs have net vendors for Rs 2.11 lakh crore, while DII has made most of the net purchases of Rs. 5.07 lakh crores have been absorbed.