Closing Bell – October 3, 2025: Nifty Nears 24,900, Sensex Gains 224 Points as Metal and Financial Stocks Shine

India’s benchmark indices ended the week on a strong note, with the BSE Sensex climbing 224 points to close at 81,207.17 and the NSE Nifty settling just shy of the 24,900 mark at 24,894.25. The rally was driven by gains in metal and financial stocks, supported by positive sentiment following the Reserve Bank of India’s recent policy stance and regulatory reforms.

Market Highlights

  • Sensex: Up 223.86 points or 0.28%, closing at 81,207.17
  • Nifty 50: Up 57.95 points or 0.23%, closing at 24,894.25
  • Sectoral Leaders: Metal, financial services, and select auto stocks
  • Top Gainers: Adani Enterprises, Tata Steel, ICICI Bank, Axis Bank
  • Top Losers: Infosys, Dr. Reddy’s, HCL Tech

The indices opened flat but gained momentum through the session, buoyed by sustained buying in heavyweights and midcaps. The Nifty traded between 24,904.80 and 24,747.55, showing resilience despite global uncertainties.

RBI Optimism Fuels Rally

The RBI’s decision on October 1 to maintain the repo rate at 5.5% and introduce capital market-friendly reforms has injected fresh optimism into the markets. Investors welcomed proposals such as easing lending norms against listed securities and expanding access to capital market credit. These measures are expected to deepen liquidity and support broader market participation.

Sectoral Performance

  • Metals: Tata Steel and JSW Steel led the charge, benefiting from global commodity strength and domestic infrastructure demand.
  • Financials: ICICI Bank, Axis Bank, and HDFC Bank posted gains amid expectations of improved credit growth and stable interest rates.
  • Auto: Stocks like Mahindra & Mahindra and Tata Motors remained firm, supported by strong Navratri sales and festive demand.

IT and pharma stocks, however, faced pressure due to recent tariff announcements from the U.S. administration, which weighed on export sentiment.

Market Outlook

With October 2 being a holiday and Friday marking the end of the trading week, volumes remained relatively low. Analysts expect momentum to pick up from Monday as traders return with fresh cues and global markets stabilize. Technical indicators suggest support near 24,700 and resistance around 25,000, keeping the short-term trend cautiously bullish.

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India Records Decade-High Navratri Sales as GST Cuts Spark Consumer Boom

India’s consumer economy has witnessed a historic upswing this Navratri season, marking the highest festive sales in over a decade. The surge is largely attributed to the recent GST reforms, which reduced tax rates across key consumer categories, triggering a wave of spending in automobiles, electronics, fashion, and lifestyle goods.

Automobile Sector Leads the Charge

The auto industry emerged as the biggest beneficiary of the festive momentum:

  • Maruti Suzuki doubled its Navratri sales compared to last year, delivering 1.65 lakh vehicles in just eight days. Day 1 alone saw a record 30,000 cars delivered—the highest single-day performance in 35 years.
  • Mahindra & Mahindra reported a 60 percent year-on-year jump in SUV sales, with models like the XUV700 and Scorpio N driving demand.
  • Tata Motors retailed over 50,000 vehicles, led by popular models such as the Nexon, Punch, and Tiago.
  • Hyundai saw SUVs like Creta and Venue account for over 72 percent of total sales.
  • Hero MotoCorp and Bajaj Auto experienced a doubling of showroom footfall, especially in the commuter segment.

Consumer Electronics Boom

Electronics brands reported explosive growth, fueled by GST rate cuts and aggressive festive pricing:

  • Haier India saw an 85 percent surge in sales, nearly selling out its Diwali stock of premium TVs priced above ₹2.5 lakh. Daily sales of 65-inch TVs reached 300–350 units.
  • LG Electronics, Godrej Appliances, and Vijay Sales all reported high double-digit growth.
  • Reliance Retail posted a 20–25 percent increase in Navratri sales, driven by large-screen TVs, smartphones, and fashion.

GST Cuts: The Catalyst for Consumption

The GST Council’s rate reductions, effective September 22, allowed companies to pass on savings directly to consumers. This led to:

  • Lower product prices across categories
  • Increased affordability of high-ticket items like SUVs and smart TVs
  • A revival in consumer sentiment after years of sluggish demand

Retailers also layered additional price incentives on top of the tax cuts, further boosting footfall and conversions.

Festive Season Outlook

The first half of India’s festive calendar—spanning Onam, Durga Puja, Navratri, and Dussehra—accounts for 40 to 45 percent of total festive sales. With Diwali around the corner, brands are optimistic that this momentum will carry forward, setting the stage for a blockbuster quarter.

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