Nifty trades above 24,650 mark; European mkt decline

The headline equity indices traded with moderate gains in the afternoon trade, supported by robust GST collection in August. Optimism prevailed 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 24,650 mark. Media, oil & gas and FMCG shares advanced, while private bank, healthcare and financial services shares corrected. At 13:30 IST, the barometer index, the S&P BSE Sensex advanced 187.92 points or 0.24% to 80,552.41. The Nifty 50 index added 63.80 points or 0.29% to 24,688.85. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 0.34% and the S&P BSE Small-Cap index advanced 0.74%. The market breadth was strong. On the BSE, 2,674 shares rose and 1,382 shares fell. A total of 138 shares were unchanged. Gainers & Losers: Power Grid Corporation of India (up 2.61%), NTPC (up 2.07%), Nestle India (up 1.97%), Eicher Motors (up 1.57%) and Reliance Industries (up 1.51%) were the major Nifty50 gainers. Dr. Reddy's Laboratories (down 0.97%), Mahindra & Mahindra (down 0.70%), Asian Paints (down 0.57%), Cipla (down 0.52%) and ICICI Bank (down 0.52%) were the major Nifty50 Losers. 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. Stocks in Spotlight: Hero MotoCorp rose 1.13% after the company said that it has dispatched 553,727 motorcycles and scooters in August 2025, reflecting an 8% growth compared to August 2024. Maruti Suzuki India rose 0.15%. The company’s total sales marginally shed 0.60% to 180,683 units in August 2025 as against 181,782 units sold in August 2024. One Mobikwik Systems soared 13.64% after Abu Dhabi Investment Authority (ADIA) fully exited the digital payments provider through block deals on Monday, 1 September 2025. Adani Ports and Special Economic Zone (APSEZ) added 0.52%. 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. Puravankara gained 1.96% after the company announced the acquisition of redevelopment rights for Samrat Ashok Co-operative Housing Society, a prime residential society located in Malabar Hill, Mumbai. Bharat Electronics (BEL) added 1.08% after the company has announced that it has secured additional orders worth Rs 644 crore since its last disclosure on 30th July 2025. Global Markets: European market declined on Tuesday as tariff uncertainty causes global markets to waver. 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.