The Nifty settled below the 25,100 level. Realty, PSU Bank and oil & gas shares advanced while pharma, IT and media shares declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 118.96 points or 0.15% to 81,785.74. The Nifty 50 index shed 44.80 points or 0.18% to 25,069.20. The Nifty gained 2.17% over the last eight trading sessions while the Sensex jumped 1.48% during its five trading sessions.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.40% and the S&P BSE Small-Cap index added 0.66%.

The market breadth was positive. On the BSE, 2,343 shares rose and 1,878 shares fell. A total of 187 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.71% to 10.40.

Economy:

The Indian government has released the Wholesale Price Index (WPI) data for August 2025, which showed that wholesale inflation rose to 0.52%, marking a return to positive territory after two consecutive months of deflation.

In July, wholesale inflation had dropped to a two-year low of -0.58%, while in June, it stood at -0.13%, the lowest in 20 months.

The government attributed the positive WPI inflation in August to rising prices in several categories, including food products, non-food articles, other manufacturing items, non-metallic mineral products, and transport equipment, among others.

India's forex reserves were up by $4.03 billion to $698.2 6billion in week ending September 5, according to the data released by the Reserve Bank of India (RBI) on Friday.

For the week ended September 5, foreign currency assets (FCAs), the largest component of the reserves, were up by $0.54 billion to $584.47 billion, the RBI data showed.

Gold reserves were up by $3.53 billion, standing at $90.29 billion during the reporting week. Meanwhile, SDRs in the last week were down by $34 million to reach at $18.74 billion.

Buzzing Index:

The Nifty Pharma index shed 0.64% to 22,198.70. The index gained 1.43% over the last four consecutive trading sessions.

Glenmark Pharmaceuticals (down 1.78%), Cipla (down 1.75%), Biocon (down 1.56%), Ajanta Pharma (down 1.26%) and J B Chemicals & Pharmaceuticals (down 1.26%), Dr Reddys Laboratories (down 1.19%), Natco Pharma (down 1.07%), Sun Pharmaceutical Industries (down 0.93%), Zydus Lifesciences (down 0.84%) and Torrent Pharmaceuticals (down 0.82%) down.

On the other hand, Alkem Laboratories (up 0.92%), Aurobindo Pharma (up 0.51%) and Divis Laboratories (up 0.44%) added.

Stocks in Spotlight:

Sterling Tools added 4.65% after its subsidiary, Sterling Gtake E-Mobility (SGEM), announced entry into EV on-board chargers and DC/DC converters through a technology partnership with China's Landworld Technology.

Desco Infratech jumped 1.14% after the company announced that it has received new orders worth Rs 8.45 crore from Torrent Gas Jaipur.

Tata Technologies (TTL) added 1.40% after the firm's wholly owned subsidiary, Tata Technologies Pte., Singapore has signed a definitive agreement to acquire 100% equity shares in ES-Tec GmbH for total consideration of euro 75 million.

RailTel Corporation of India surged 6.45% after the company received the Letter of Acceptance (LOA) worth Rs 209 crore from State Project Director (SPD) Bihar Education Project Council (BEPC).

Diamond Power Infrastructure rallied 5.25% after the company announced that it has received a Letter of Intent (LoI) from Adani Energy Solutions for the supply of 5,403 KM of AL-59 Zebra Conductors for the Jamnagar Project.

DCX Systems added 0.45%. The company signed a memorandum of understanding with Government of Tamil Nadu (GoTN) through its Nodal Agency Guidance at T N Rising Investment Conclave to set up a manufacturing facility for a JV company at Hosur.

Waaree Energies fell 1.27%. The company's arm incorporates three wholly-owned subsidiaries in the name of Waaree Forever Energies Four, Waaree Forever Energies Five and Waaree Forever Energies One.

Global Markets:

European shares traded higher on Monday, supported by gains in bank stocks, as investors prepared for a crucial week of central bank meetings, including the U.S. Federal Reserve's policy decision.

Asia market ended mixed as investors kept an eye on the talks between the U.S. and China in Spain, and assessed a slate of data from Beijing.

As per reports, U.S. and Chinese officials began talks in Madrid Sunday to discuss key national security, economic, and trade issues, including the upcoming deadline to divest Chinese short video app TikTok and U.S. tariffs.

South Korea's Kospi index rose in early trade to a record high on Monday after Finance Minister Koo Yun-cheol said that the government will scrap its previous plan to raise taxes on stock investments.

In China, retail sales last month rose 3.4% from a year earlier, data from the National Bureau of Statistics showed Monday, slowing from July's 3.7% growth.

As per reports, the industrial output growth slowed to 5.2% in August, compared to the 5.7% jump in July, marking its weakest level since August 2024.

Fixed-asset investment, reported on a year-to-date basis, expanded just 0.5%, a sharp slowdown from the 1.6% expansion in the January to July period. Within that segment, the contraction in real estate investment worsened, slumping 12.9% in the first eight months, government data reportedly showed.

The major U.S. stock indexes finished mixed on Friday but still posted weekly gains ahead of next Wednesday's interest rate decision from the Federal Reserve.

The tech-heavy Nasdaq Composite (IXIC) rose 0.4% Friday to close at a record high and finish the week 2% higher. The S&P 500 (SPX) dipped 0.1% to post a weekly gain of 1.6%. The Dow Jones Industrial Average (DJI) fell 0.6% but closed the week up 1%.

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