The key equity indices traded with minor gains in early trade. The Nifty traded above the 25,300 level. FMCG, oil & gas and IT shares advanced while media, metal and PSU bank shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex gained 211.53 points or 0.24% to 82,562.71. The Nifty 50 index added 67.05 points or 0.27% to 25,302.95.

The Sensex and Nifty clocked an all-time high of 82,725.28 and 25,333.65, respectively in early trade.

In the broader market, the S&P BSE Mid-Cap index added 0.17% and the S&P BSE Small-Cap index rose 0.14%. The S&P BSE Mid-Cap index hit an all-time high at 49,306.56.

The market breadth was strong. On the BSE, 2,033 shares rose and 1,063 shares fell. A total of 148 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 5,318.14 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3,198.07 crore in the Indian equity market on 30 August 2024, provisional data showed.

Stocks in Spotlight:

Adani Energy Solutions added 1.23% after the company said that it has signed share purchase agreement with REC Power Development and Consultancy to buy Khavda IVA power transmission.

Emami fell 2.47%. The Kolkata-based FMCG company announced the acquisition of the remaining 49.60% stake in Helios Lifestyle (Helios), which is well known for its grooming brand ‘The Man Company', for a consideration of Rs 177.63 crore.

Biocon rose 0.42%. The company received as establishment inspection report (EIR) from US Food and Drug Administration (USFDA) for the Visakhapatnam API facility. Meanwhile the company’s arm received USFDA approval for daptomycin injection. Daptomycin is used to treat skin infections.

Numbers to Track:

The yield on India's 10-year benchmark federal paper jumped 1.78% to 6.985 as compared with previous close 6.863.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.8650, compared with its close of 83.8525 during the previous trading session.

MCX Gold futures for 4 October 2024 settlement shed 0.16% to Rs 71,500.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 101.66.

The United States 10-year bond yield rose 0.03% to 3.910.

In the commodities market, Brent crude for November 2024 settlement lost 69 cents or 0.90% to $76.24 a barrel.

Global Markets:

Asian share markets were mildly higher on Monday as investors awaited a data-packed week, culminating in the crucial U.S. jobs report. This report could determine whether the anticipated rate cut this month will be a standard or more aggressive reduction.

A Labor Day holiday in the United States and Canada contributed to thin trading conditions. Meanwhile, gains by far-right parties in German state elections added a layer of political uncertainty.

Traders will be closely watching the Caixin China manufacturing PMI, due out on Monday. This follows the official gauge, which showed a fourth consecutive month of contraction in August, indicating potential challenges in meeting China's annual growth target. The country's residential property market also continued to decline last month.

U.S. stocks rallied on Friday, buoyed by a report of improved consumer sentiment. This was attributed to easing inflation and expectations of Federal Reserve rate cuts, leading to optimism about personal finances. The Fed's preferred measure of underlying U.S. inflation, the core personal consumption expenditures price index, rose 0.2% month-over-month in July and 2.5% year-over-year.

The Dow Jones Industrial Average closed at a new all-time high, up 0.55%. The S&P 500 gained 1.01%, reaching 5,648.40, and the tech-heavy Nasdaq Composite rose 1.13% to 17,713.62.