Indices turn rangebound; realty shares climb for 2nd day

The key equity benchmarks traded in narrow range with moderate gains in mid-morning trade, supported by robust GST collection in August. The market witnessed optimism ahead of the GST council meeting scheduled later this week. Investors are closely tracking developments on U.S. tariff measures, FII outcome and monthly auto sales data. The Nifty traded above 24,700 level. Realty shares witnessed buying demand for second consecutive trading session. At 11:25 IST, the barometer index, the S&P BSE Sensex gained 299.57 points or 0.37% to 80,661.38. The Nifty 50 index rose 94.60 points or 0.38% to 24,719.65. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 0.56% and the S&P BSE Small-Cap index advanced 1.01%. The market breadth was strong. On the BSE, 2,778 shares rose and 1,108 shares fell. A total of 163 shares were unchanged. Economy: India collected 1.86 trillion rupees ($21.26 billion) as goods and services tax in August, 6.5% higher than the same period last year, the government said on Monday. Trump Tariffs: Activity on the domestic bourses will be in focus after U.S. President Donald Trump reportedly said that India had offered to reduce its tariffs on U.S. imports to zero. "They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago,” U.S. President Donald Trump wrote on Truth Social. He added that the U.S.′ relationship with India was “one sided”, the report added. IPO Updates: The initial public offer (IPO) of Amanta Healthacare received bids for 6,67,85,537 shares as against 70,00,000 shares on offer, according to stock exchange data at 11:18 IST on Tuesday (2 September 2025). The issue was subscribed 9.54 times. The issue opened for bidding on 1 September 2025 and it will close on 3 September 2025. The price band of the IPO is fixed between Rs 120 and 126 per share. An investor can bid for a minimum of 119 equity shares and in multiples thereof. Buzzing Index: The Nifty Realty index gained 1.45% to 892.60. The index rose 2.51% in the two consecutive trading sessions. Phoenix Mills (up 3.37%), Anant Raj (up 2.4%), Godrej Properties (up 2.23%), Raymond (up 2.2%) and Oberoi Realty (up 1.82%), DLF (up 1.74%), Prestige Estates Projects (up 0.32%), Lodha Developers (up 0.29%), Brigade Enterprises (up 0.03%) advanced. Stocks in Spotlight: Adani Ports and Special Economic Zone (APSEZ) rose 0.41%. The company reported handling 41.9 MMT of cargo in August 2025, marking an 16% year-on-year (YoY) increase, primarily driven by a 29% YoY growth in container volumes. Indraprastha Gas added 2.68% after the company announced the formation of a joint venture (JV) with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) for setting up a solar power project in the state of Rajasthan. Global Markets: Asia-Pacific markets traded mixed as investors assessed the Shanghai Cooperation Organization meeting of leaders in Tianjin, with tariff uncertainty weighing on sentiment. This comes after a U.S. federal appeals court on Friday ruled that most of President Donald Trump’s global tariffs are illegal. South Korea’s consumer price index rose 1.7% in August from the year before, after increasing by 2.1% the month before. This marks its slowest year-on-year rise since November and is marginally weaker than the 2% rise Australia’s current account balance for the April to June quarter came in at a deficit of 13.7 billion Australian dollars ($8.97 billion), compared to the AU$14.7 billion deficit the quarter before.