nifty sensex share market news september 3 2024 broader markets defence stocks

Indian equities in Tuesday's trade after a 13-day winning day streak started lower tracking mixed Asian markets. At the open, Nifty started trade lower by 0.07 per cent or 18.6 points at 25,260.1, while the BSE 30-share Sensex was down 0.03 per cent or 27.48 points at 82,532.36.

Prashanth Tapse, Senior VP (Research), Mehta Equities said, "Nifty and Sensex reached new all-time highs at 25333.65 and 82725.28 respectively, with FIIs showing renewed buying interest, net purchasing Rs 9,217 crore last week and Rs 1735 crore yesterday."

Investors are optimistic, expecting a 50bps Fed cut in September and focusing on the upcoming US jobs report, added Tapse.

Defense stocks are in focus in Tuesday's session as amid tthe growing standoff with China, the Defence Ministry is set to undertake major projects, including the construction of seven advanced frigates for the Indian Navy and the Indian Army's proposal to replace its T-72 tanks with modern Future Ready Combat Vehicles (FRCVs).