Auto, metals lead India stock benchmarks higher

Sep 8, 2025, 11:32 GMT+7
(Reuters) - India's equity benchmarks rose on Monday, led by auto makers on tax cuts and metals on demand optimism and China's steel reforms, while hopes of a Federal Reserve rate cut this month boosted sentiment.
The NSE Nifty 50gained 0.28% to 24,809.75 and the BSE Sensexadded 0.26% to 80,922.34 as of 10:00 a.m. IST.
While equity markets remained open, the currency and debt markets are closed today on account of a local holiday, and will reopen on Tuesday.
In light of the holiday, settlement for today's trades will occur on Wednesday, not Tuesday, according to exchange circulars.
Trades made today will be settled in two days instead of the usual timeline. Settlement will revert to the usual cycle after Monday.
"Investors should exercise caution regarding any corporate action due tomorrow," a regulatory source said.
Thirteen of the 16 major sectors logged gains. The broader small-capsand mid-capsrose 0.4% and 0.6%, respectively.
The metals indexadvanced 1% after Morgan Stanley turned constructive on Indian steel makers, citing demand uptick, benefits due to China's steel supply reforms and a weakening U.S. dollar.
The brokerage upgraded JSW Steeland Tata Steelto "overweight" from "equal weight" and SAIL to "equal weight" from "underweight".
All the three steel makers rose about 3% each.
The auto indexgained 1.8%, led by Tata Motors, which jumped 3.2% after cutting prices across its vehicle portfolios to pass on the full benefit of the Goods and Services Tax cut to customers.
Other Asian markets opened higher, with the MSCI Asia ex-Japan indexrising 0.4% after data showed the U.S. created far fewer jobs than expected in August, raising hopes of a rate cut later this month.
"U.S. labour data and dovish signals from the Fed buoyed expectations of rate cuts, while GST reforms are being viewed as a structural stimuli for domestic markets," said Pravesh Gour, senior technical analyst at Swastika Investmart.

Sumber : Reuters