Sensex up 300pts, Nifty above 24,500; India’s manufacturing PMI hits 17-year high

Indian stocks opened higher on Monday, despite weakness in global markets, powered by buying in Infosys, Power Grid, Bajaj Auto, HDFC Life, Adani Enterprises, TCS, IndusInd Bank, Tech M, and Trent shares.

At 10 AM, the BSE Sensex was trading at 80,191.68, up 382 points or 0.48, while the NSE Nifty50 was trading with at 24,547.55, up 120.7 points or 0.49 per cent on better-than-expected Q1FY26 GDP growth data.

In the broader markets, the Nifty MidCap index and the Nifty SmallCap index rose 1.2 per cent each.

India’s manufacturing growth touched over 17-year high in August, with the HSBC India Manufacturing Purchasing Managers’ Index (PMI) rising to 59.3 from 59.1 in July, S&P Global data showed on Monday.

Investors are closely watching developments around India-US trade relations, especially after the US Court of Appeals for the Federal Circuit ruled that US President Donald Trump has overstepped his presidential authority by imposing broad levies on nearly every major trading partner under his April 2 “liberation day” declaration. The Court, however, kept the tariffs in place.

That apart, market participants will also track August auto sales data, and HSBC Manufacturing PMI Final data for the previous month scheduled to be released today, September 1, 2025.

Meanwhile, among sectors, the Nifty IT was the top gainer today, rising 1.4 per cent. This was followed by gains in the Nifty PSU Bank, and Auto indices (up 0.5 per cent each).

On the downside, the Nifty FMCG index was marginally in the red.