The Indian benchmark indices opened on the flat note with a positive bias on Monday, on the back of positive domestic inflation data and growing expectations of a US Federal Reserve rate cut.

As of 9.30 am, the Sensex was up 4.5 points or 0.005 per cent at 81,909, and the Nifty was up 4.15 points or 0.017 per cent at 25,118.

The broadcap indices outperformed benchmark indices, as Nifty Midcap 100 inched up by 0.26 per cent, and the Nifty Small cap 100 moved up 0.53 per cent.

Foreign institutional investors (FIIs) have sold over Rs 1 lakh crore in Indian stocks since July, impacting the market sentiments, but consistent domestic inflows lent support, according to provisional data from stock exchanges.

The sell-off, driven by lacklustre earnings, stretched valuations, and uncertainty over US tariffs, has resulted in range-bound indices.

Between July 1 and September 8, foreign institutional investors sold equities totalling Rs 1.02 lakh crore, with Rs 7,800 crore sold in the first six sessions of September.

With August inflation print a tad higher than the 2 per cent mark, a rate cut in October is unlikely, according to a report by SBI Research, adding that even a rate cut in December looks a little difficult if growth numbers for Q1 and estimated Q2 data are taken into consideration.

As the Goods and Service Tax (GST) rate on around 295 essential items has been reduced from 12 per cent to 5 per cent or NIL, the consumer price index (CPI) inflation in this category may come down by 25-30 basis points in FY26 after considering a 60 per cent pass through effect on food items, said the report.

Apart from this, the rationalisation of GST rates of services should also lead to another 40-45 bps reduction in CPI inflation on other goods and service items, considering a 50 per cent pass-through effect.

Lower headline inflation and reduced interest rates are set to extend broader support to domestic demand in the economy amidst global headwinds, a report has said.

The headline inflation is now projected at 3.2 per cent in fiscal 2026, down from the earlier estimate of 3.5 per cent. This results in a 140 basis points (1.4 percentage points) decline in CPI inflation for this fiscal year, according to the report from ratings agency Crisil.

"This sharp moderation implies a sizeable 140 basis points (bps) decline in CPI inflation this fiscal, opening space for monetary easing. We believe the RBI will cut rates by another 25-bps this year," the report added.

The Association of Indian Medical Device Industry (AiMeD) on Saturday welcomed the timely directions issued by the Department of Pharmaceuticals (DoP), National Pharmaceutical Pricing Authority (NPPA) and the Central Drugs Standard Control Organisation (CDSCO) to ensure smooth implementation of the revised GST rates on drugs, formulations, and medical devices, effective from September 22.

The Office Memorandum issued by DoP-NPPA on Friday clarified that while manufacturers and marketers are required to revise Maximum Retail Prices (MRPs) to reflect reduced GST, recalling or re-labelling of existing stock already released in the market will not be mandatory, provided price compliance is ensured at the retailer level.

CDSCO has further permitted the use of stickering on medical devices (Class C and D) within three months to reflect revised MRPs, thereby easing operational challenges for importers and manufacturers.

The Indian equities displayed strong bullish momentum this week on hopes of stronger H2 FY26 earnings, driven by GST rationalisation and the benefits of monetary easing.

Benchmark indices Nifty and Sensex ended the week with a gain of around 1.32 per cent and 1.21 per cent, respectively, with the rally driven by auto and IT stocks. Midcap and smallcap stocks outperformed the benchmark indices.

The IT index exhibited its rally, driven by renewed hopes of a Fed rate cut, Infosys’ buyback announcement, and optimism over a revival in technology spending.

The Nifty advanced 373 points forming a robust bullish candle. Analysts said that, on the weekly chart, the index has broken out of a symmetrical triangle pattern with conviction, signalling the potential for further upside.

India’s inflation rate based on the Consumer Price Index (CPI) edged up to 2.07 per cent in August, although prices food continued to decline during the month, easing the burden on the common man, according to figures released by the Ministry of Statistics on Friday.

The headline inflation in August was marginally higher than the 1.61 per cent in July this year, which was the lowest level of year-on-year retail inflation since June, 2017.

However, the inflation rate is well within the RBI’s target rate of 4 per cent, which allows the central bank to continue with the soft money policy to spur growth.

FMCG, IT, auto, oil and gas and consumer durables are among India’s most consistent sectors in providing high-return on equity (ROE) since 2009, a report said on Friday.

A core high-ROE cohort of FMCG, IT, oil and gas, and consumer durables makes up over one third of market cap and earns ROEs about 50 per cent above the rest.

FMCG stocks (under Nifty 50) recorded an average ROE of 35.5 per cent, and since the global financial crisis (GFC) around 2008-2009, the ROE for the sector stood at 45.4 per cent, DSP Mutual Fund said in a report.

IT (28.6 per cent), automobile and auto component (22.8 per cent), oil and gas (22.3 per cent), and financial services (15.9 per cent) were the other top sectors in terms of ROE since the GFC.

Indian IT giant Infosys has obtained exemptive relief from the US Securities and Exchange Commission for its Rs 18,000 crore buyback, according to its notification to the exchanges. The company has announced its first share buyback in three years, since October 2022.

Infosys shares rose to Rs 1,528, gaining Rs 18 or 1.23 per cent today. The stock increased by Rs 80 in the past five days, marking a 5.55 per cent rise.

The IT giant's fifth buyback is now awaiting approval from current shareholders through a special resolution and postal ballot. The decision was made amidst macroeconomic volatility weighing on stock prices.

Capital markets regulator Securities and Exchange Board of India (SEBI) is set to review key regulatory changes at its board meeting on Friday, including relaxed stake dilution norms for large companies, and amended allocation norms for anchor investors in IPOs.

The regulator is considering stake dilution norms to permit large firms to launch smaller initial public offerings. SEBI also considers extending deadlines to comply with minimum public shareholding requirements.

Companies with post-issue market capitalisations exceeding Rs 5 lakh crore may need to maintain a minimum float of Rs 15,000 crore plus 1 per cent, subject to a minimum of 2.5 per cent public float.

The Indian benchmark indices opened with mild gains on Friday on the back of strong global cues, driven by growing expectations of a US Federal Reserve rate cut next week.

As of 9.25 am, Sensex was up 114 points or 0.14 per cent at 81,663, and Nifty was up 39 points or 0.16 per cent at 25,045.

The broadcap indices outperformed benchmark indices, as Nifty Midcap 100 inched up by 0.43 per cent, and the Nifty Small cap 100 moved up 0.36 per cent.

India’s GST reforms could trim headline inflation by as much as 75 basis points and unlock up to Rs 1 lakh crore in consumption spending, a report has said.

"The overall impact on CPI is expected to be around 55-75bps. Thus we revise downward our current estimate of headline CPI to 3.1 per cent from our previous forecast of 3.5 per cent," said a report from Bank of Baroda's research wing.

Analysts say the GST reforms, which placed 99 per cent of goods in the 0 per cent, 5 per cent or 18 per cent brackets, will cut effective tax rates to around 10–11 per cent.

"We expect the taxable consumption group will translate to Rs 150-160 lakh crore. This amount may even be higher once we get the new proportion of GST collected under each head," the statement said.

The consumer price index (CPI) is likely to settle at 2 per cent in August, a Bank of Baroda (BOB) report said on Thursday, citing a projected decline in its Essential Commodity Index (ECI).

The public sector lender said that the BoB ECI has been in deflation territory for 4th consecutive month in a row, declining by -1 per cent, on a year-on-year (YoY) basis in August and by another -0.9 per cent in the first 9 days of September.

The major support had come from vegetables and pulses, supported by better production. In September, prices of tomato, onion and potato are showing a downward correction in prices, with pronounced correction visible for tomato, the bank stated.

Apart from this, global food and energy prices also remained in favour of a lower inflation rate.

Chartered accountant associations and tax lawyers have urged the government to extend income tax return (ITR) and audit deadlines for the assessment year (AY) 25-26, citing ongoing issues with the e-filing portal and delays in form releases.

The Karnataka State Chartered Accountants Association (KSCAA) has sent a representation to the ministry arguing that ITR-5, ITR-6, ITR-7, and key audit forms were only released in July and August.

“The long-established practice of notifying ITR forms by 1 April has once again not been followed. This year, the delays have been particularly grave, severely limiting preparation time for tax filers,” the association was quoted as saying to reports.

India's top-rated finance companies (fincos) are projected to grow their loan books at 21-22 per cent over the next two years -- higher than 11-12 per cent for banking sector loan growth, thus grabbing market share from banks, a report said on Thursday.

One driver for the sector is its strong presence in retail lending, which is still underpenetrated in India, S&P Global Ratings said in its report.

Upper-layer fincos have strong capital levels, which will support high loan growth and provide downside buffers.

"We also expect earnings momentum to sustain, with slightly higher net interest margins over the next two years. This will add to the buffer," the report said.

The domestic benchmark indices opened a tad higher on Thursday, driven by developments in bilateral trade discussions between India and the United States and other global cues.

As of 9.25 am, Sensex was up 85 points or 0.11 per cent, at 81,510 and Nifty was up 24 points or 0.09 per cent at 24,997.

The broadcap indices outperformed benchmark indices, as Nifty Midcap 100 inched up by 0.16 per cent, and the Nifty Small cap 100 moved up 0.28 per cent.

NTPC, ONGC, TCS and SBI were among major gainers on the Nifty, while losers included SBI Life Insurance, Hero Motorcorp, Dr Reddy's Labs, Tech Mahindra and Trent.

Air India has announced that its flights to and from Kathmandu on Wednesday have been cancelled as the airport continues to remain closed amid the unrest in the country.

“We are closely monitoring the situation and will share further updates. At Air India, the safety of our passengers and crew remains top priority," the airline spokesperson said.

Air India and low-cost carrier IndiGo on Tuesday cancelled their flights between Delhi and Kathmandu as the neighbouring country plunged deeper into chaos after pressure from Gen-Z protests escalated following the killing of 19 people including schoolchildren in police firing while 200 others were injured.

Air India on Tuesday said in a statement that in view of the current situation prevailing in Kathmandu, " flights AI2231/2232, AI2219/2220, AI217/218 and AI211/212 operating on the Delhi-Kathmandu-Delhi route have been cancelled today".

India's economy shows resilience despite global trade and fiscal uncertainty, supported by robust domestic consumption and government spending, a report said on Wednesday.

A report from SBI Capital Market indicated that the Indian markets remained resilient, though the aggressive tariff regime of the United States has become a significant issue globally.

"India remained surprisingly insulated in Q1, clocking an above-par GDP growth. There is recognition that, amidst global headwinds from high tariffs imposed on India, a domestic consumption stimulus is in order. The GST reform is a welcome step in this regard," the report said.

The incremental credit flow of banks is expected to rise to Rs.19-20.5 lakh crore in FY2026 from Rs.18 lakh crore in FY2025 which represents a year-on-year (YoY) growth of 10.4-11.3 per cent for banks in the current financial year compared to 10.9 per cent in FY2025, according to an ICRA report released on Wednesday.

The NBFC credit (excluding the infrastructure-focussed entities) is projected to expand at 15-17 per cent in the current fiscal, compared to 17 per cent in FY2025, the report states.

While the pace of incremental bank credit growth in the current year lags at Rs.3.9 lakh crore for the first five months of FY2026 compared to Rs.5.1 lakh crore for the previous year, the GST rate cuts aimed at spurring domestic demand would support credit expansion for banks and NBFCs in the near term.

India is showing resilience amid geo-political uncertainties and is projected to stay above 6 per cent growth over the next three years -- amid a raised outlook of 6.9 per cent growth in current fiscal -- according to the latest Fitch Ratings’ ‘Global Economic Outlook’ released on Wednesday.

On the back of the Q2 2025 outturn (7.8 per cent growth), Fitch has revised up its forecast for the fiscal year ending March 2026 (FY26) to 6.9 per cent from 6.5 per cent in the June report.

Domestic demand will be the key driver of growth, as strong real income dynamics support consumer spending and looser financial conditions should feed through to investment, said the report.

Goods and Services tax (GST) reforms are expected to boost domestic consumption without disrupting the trend of fiscal consolidation, a new report has said.

The Centre may reduce government spending in the next two quarters to maintain fiscal consolidation trends, according to a report from ratings agency Moody’s.

The government estimates a net foregone revenue of Rs 48,000 crore ($5.4 billion) for this year, based on FY24 data calculations. The GST reform may impact the government's efforts to reduce debt, the report said.

The Indian benchmark indices opened higher on Wednesday, on the back of promising developments in the US-India trade discussions along with strong overnight global cues.

US President Donald Trump’s initiative to improve India-US relations and Prime Minister Narendra Modi’s positive response to the same is a positive cue for the Indian market.

The Sensex was up 334 points or 0.41 per cent at 81,435 in the early morning trade, and the Nifty was up 106 points or 0.43 per cent at 24,975.

The broadcap indices made strong gains, as Nifty Midcap 100 inched up by 0.73 per cent, and the Nifty Small cap 100 moved up 0.71 per cent.

India's largest lender, State Bank of India on Tuesday announced the listing of its recently issued $500 million Regulation S bonds at NSE International Exchange (NSE-IX) at GIFT City.

The bonds were issued at a coupon rate of 4.50 per cent at NSE-IX. The bond that has also been approved for listing on Singapore Exchange Securities Trading Limited (SGX-ST), is priced at a spread of 75 bps over the benchmark, a release from the bank said.

Regulation S bonds have received credit ratings of BBB from S&P and BBB- from Fitch.

Young Indian professionals are prioritising savings, investments, and debt repayment over discretionary spending, according to a report on Tuesday.

The report by job site Naukri, based on a nationwide survey of over 20,000 job seekers earning up to Rs 12.75 LPA -- who fall in the zero-tax bracket as per the new FY’26 tax regime -- revealed a decisive tilt towards financial prudence.

Domestic gold and silver prices surged to record highs on Tuesday, tracking a global rally in precious metals amid weakness in US dollar, as disappointing US labour market data reinforced expectations of aggressive Federal Reserve rate cuts.

The gold prices touched an all-time high, while silver climbed to a 14-year peak in international markets. On the MCX, the yellow metal futures for December delivery appreciated Rs 458 or 0.41 per cent to hit a lifetime high of Rs 1,10,047 per 10 grams.

In India, the price of 24-carat gold per gram was at Rs 10,804 on Tuesday, according to data published by the India Bullion and Jewellers Association (IBJA).

 A three-member bench of the Securities Appellate Tribunal (SAT) was set to begin hearing on Tuesday in a case between US trading company Jane Street Group LLC and capital markets regulator, the Securities and Exchange Board of India (SEBI).

The New York-based firm has challenged SEBI’s July interim order that accused it of manipulative trading in India’s equity derivatives market.

Jane Street argued that the regulator denied it access to crucial documents, including correspondence with whistleblower Mayank Bansal and the National Stock Exchange (NSE). It has asked the tribunal to halt further regulatory action until the appeal is resolved.

The Indian benchmark indices opened higher on Tuesday, with Nifty IT index leading the rally with 1.7 per cent surge in the early trade.

At 9.23 am, Sensex was up 355 points or 0.44 per cent, at 81,142 and Nifty was up 99 points or 0.40 per cent, at 24,873.

The broadcap indices stayed flat, as Nifty Midcap 100 inched up by 0.05 per cent, and the Nifty Small cap 100 dipped 0.01 per cent.

Nifty IT advanced on the back of strong gains by Infosys (up 3.35 per cent) as the company had announced that it will consider a buyback of shares along with its results next month. IT company Wipro also advanced 2.36 per cent.

The Indian equity indices ended the session slightly up on Monday, amid buying in auto and metal stocks. The domestic indices soared high in the early trade, boosted by the GST reforms announcement, optimism around the ease in India-US relationship, and the rate cut announced by major Indian automakers.

However, the indices lost most of their gains in the last trading hours due to a sell-off in IT heavyweights and profit booking.

Sensex closed at 80,787.30, up 76.54 points or 0.09 per cent. The 30-share index opened the session with a decent gap-up at 80,904.40 against the last session's closing of 80,710.76, buoyed by GST rationalisation and bullish momentum in auto and metal stocks. The index jumped around 400 points to hit an intraday high at 81,171.38.

Nifty settled the session at 24,773.15, up 32.15 points or 0.13 per cent.

The Securities and Exchange Board of India (SEBI) on Monday announced revised settlement schedules for the equity and derivatives segments in view of settlement holidays declared on September 5 and 8, 2025, by clearing corporations.

The holidays, observed on the occasion of Id-E-Milad, mark the birth anniversary of Prophet Muhammad.

While trading on stock exchanges will remain open, no clearing or settlement will take place on these dates as depositories NSDL and CDSL will remain shut. Consequently, fund and securities transfers will be processed on the subsequent working days.

India's capital goods-related segments, such as Defence, renewable and industrial machinery, could hugely benefit from the revision of the Goods and Services Tax (GST) structure, a report has said.

The current four-tier GST system will give way to a two-rate structure of five per cent and 18 per cent, from September 22, 2025, Japan-based broking firm Nomura said in a report.

Defence procurement and indigenous manufacturing, highly sensitive to indirect tax structures, will benefit from revisions to GST rates, significantly reducing the tax burden on critical equipment, components, and subsystems, according to the broking house.

India’s gold exchange-traded funds (ETFs) saw net inflows of $233 million in August 2025, marking a 67 per cent jump from the $139 million reported in July, as per World Gold Council data.

This marks the third straight month of inflows globally, and the fourth month of inflows in India, highlighting steady investor appetite for the yellow metal. Except for March and May, every month of 2025 has seen inflows.

In India, the price of 24-carat gold per gram is at Rs 10,634 on Monday, according to data published by the India Bullion and Jewellers Association (IBJA).

The GST rationalisation on life and health insurance premiums will significantly improve affordability, strengthen penetration and provide a boost to consumption ahead of the festive season, experts said on Monday.

The move comes as part of the broader GST rationalisation, which merged the 12 per cent slab with 5 per cent and subsumed the 28 per cent into 18 per cent.

Health and life insurance, which earlier attracted 18 per cent GST, have now been moved to the nil tax category.

According to ICRA, while policyholders will benefit from lower premiums, insurers may face a short-term hit as input tax credit (ITC) will no longer be available.

This could flatten margins, particularly in life insurance, though affordability gains are expected to drive higher sales and improve long-term penetration.

The Indian benchmark indices opened higher on Monday over the GST booster, amid tariff-related uncertainty between India and the US.

As of 9.35 am, Sensex was up 280 points or 0.35 per cent, at 80,991, and Nifty was up 84 points or 0.34 per cent, at 24,825. The broadcap indices, Nifty Midcap 100 inched up by 0.77 per cent, and the Nifty smallcap 100 inched up 0.72 per cent.

Among sectoral indices, the Nifty Auto was the top gainer, rising 1.52 per cent, followed by Nifty Metal and Nifty Realty. In the Nifty pack, Tata Steel (up 2.57 per cent), Tata Steel, Tata Motors NTPC, Hindalco and SBI were the major gainers, while losers included SBI Life Insurance, Asian Paints, Dr Reddys Labs, Titan Company and Trent.

The Finance Ministry on Friday put forth the proposal about a simplified, two-tier Goods and Services Tax (GST) system with a "standard" and "merit" slab, alongside special rates for select goods.

The proposal came after Prime Minister Narendra Modi said during his Independence Day address from the Red Fort that the next generation reforms in GST will be unveiled by Diwali, which will provide "substantial" tax relief to the common man and benefit small businesses.

The government has sent its proposal on GST rate rationalisation and reforms to the Group of Ministers (GoM) constituted by the GST Council to examine this issue.

Key areas identified for next-generation reforms include the rationalisation of tax rates to benefit all sections of society, especially the common man, women, students, middle class, and farmers.

The government on Friday introduced FASTag-based annual toll pass for private vehicles on the occasion of the 79th Independence Day. The annual pass is priced at Rs 3,000.

Cars, jeeps, and vans can use this facility at toll plazas run by the National Highways Authority of India and the Ministry of Road Transport and Highways.

The pass is valid for one year from activation or for 200 toll trips, whichever occurs first. When the limit is reached, the FASTag automatically switches to standard pay-per-trip mode. For point-based toll plazas, each one-way crossing counts as a trip, and a return counts as two. In closed or ticketed systems, a complete entry-to-exit journey counts as one trip.