Stock Market Today: 1st September 2026
Nifty 50: The Nifty remained volatile but largely range-bound around the 24,000–24,100 zone. It closed at 24,055.80, down 24.60 points (-0.10%), after defending the important 24,000 support level.
Bank Nifty: Banks were much weaker than the broader market. Bank Nifty closed at around 57,409.6, down 1.06%, after falling nearly 1% during the session. It gave back a significant portion of Monday’s unusual closing-auction-session (CAS) rally.
PM Modi’s “Vocal for Local” Push: Focus on Domestic Spending and Self-Reliance
PM Modi’s video message today focused on India’s 7.8% Q1 FY27 GDP growth and the need for citizens to support a stronger, self-reliant economy. He urged people to embrace “Vocal for Local”, avoid unnecessary foreign travel and overseas weddings, and be cautious about non-essential gold purchases, arguing that spending more on Indian goods and services can strengthen domestic demand and help India withstand global economic uncertainties.
Stocks up today :
ITC — +4.34%
ITC gained sharply after ITC Infotech announced a ₹1,330 crore acquisition of a 22.106% stake in Happiest Minds and a proposed merger, strengthening ITC’s technology/IT-services presence. The stock also benefited from defensive FMCG buying as the broader market remained weak.
SSWL – Steel Strips Wheels +14.94%
Record August performance. SSWL reported its highest-ever monthly net turnover of ₹592.92 crore, up about 54% YoY. Strong growth in its aluminium products segment, helped by EV demand, triggered buying.
SYMBIOTEC – Symbiotec Pharmalab +10.73%
Strong post-listing buying. The stock listed today at around its ₹988 IPO price after a heavily subscribed 71.26× IPO, then attracted aggressive buying and moved above ₹1,090. The stock was highly volatile, making this primarily a listing-day momentum trade.
WELCORP – Welspun Corp +6.91%
Stock down today :
Maruti Suzuki -4.41%
August sales were weak sequentially. Although total August sales were higher YoY, the market focused on the roughly 10% month-on-month decline, triggering selling in Maruti. Auto stocks were also weak broadly.
IndiGo -3.48%
ATF price hike + crude oil above $91. Aviation is highly sensitive to fuel costs. Domestic ATF prices were raised again, increasing concerns about margins. Higher crude is an additional negative for airlines.
Asian Paints -2.94%
Crude-oil shock. Crude above $91/barrel is negative for paint companies because petroleum-derived raw materials are important inputs. Higher crude can therefore pressure margins.
What drove the movement?
- Banking stocks were under pressure: Axis Bank, SBI, Yes Bank and other financial stocks declined, pulling Bank Nifty lower.
- Crude oil remained above $90: Brent crude moved above $92, raising concerns about inflation and interest rates.
- Higher bond yields: Rising global yields added pressure to equities, particularly financial and rate-sensitive stocks.
- Nifty got support from IT and FMCG: Gains in IT, FMCG and selected heavyweight stocks prevented a deeper fall in the Nifty.
- Midcaps and smallcaps were weaker: Broader-market selling was considerably stronger than the headline Nifty decline.
Todays Events :
INDIA :
1. August Manufacturing PMI — important
India’s August manufacturing PMI fell to 52.8, the lowest in about five years, indicating a significant slowdown in factory activity. This is a negative macro signal despite India’s strong 7.8% Q1 FY27 GDP growth.
2. GST collections — watch today
September 1 is also an important date for India’s August GST collection data. Strong collections would support consumption/economic-growth sentiment, while a weaker number could reinforce concerns raised by the PMI. India’s economic calendar lists GST collections among today’s key releases.
3. Auto sales — major stock-specific event
Most automobile companies are reporting August 2026 sales, making today’s session important for Maruti, Tata Motors, M&M, Hyundai, Bajaj Auto, TVS Motor, Hero MotoCorp and Eicher Motors. This is particularly relevant given the sharp fall in Maruti today.
US :
The US has several important economic releases today:
- US Manufacturing PMI
- ISM Manufacturing PMI
- JOLTS job openings
- Construction spending
These releases can influence expectations for the Federal Reserve’s interest-rate path, US Treasury yields, the dollar and global equities.
For Indian markets: US data is especially important tonight because stronger-than-expected employment/manufacturing data could push US yields and the dollar higher, potentially creating pressure on emerging markets.
Global — biggest issue is oil/geopolitics :
US-Iran tensions remain the biggest global market risk. Renewed fighting has pushed crude prices higher because investors are worried about disruption to oil supplies and shipping through the Strait of Hormuz.