Sensex Today Ends 206 Points Lower | Nifty Below 24,600 | MobiKwik Shares Surge 15% & Sharika Enterprise 19%

Tue, 2 Sep Closing

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After opening the day higher, the benchmark indices continued their downward momentum, ended the session in red.

Indian equity markets indices Senex and Nifty surrendered early gains to end lower today, dragged down by losses in banking and pharmaceutical stocks ahead of the two-day GST Council meeting starting tomorrow.

At the closing bell, the BSE Sensex  closed lower by 206 points (down 0.3%).

Meanwhile, the NSE Nifty closed 45 points lower (down 0.2%).

Power Grid Corp, NTPC, Tata Steel among the top gainers today.

M&M, ICICI Bank, Asian Paints on the hand, were among the top losers today.

The GIFT Nifty was trading at  24,673 lower by 55 points at the time of writing.

The BSE MidCap index ended 0.2% higher and BSE SmallCap index ended 0.6% higher.

Sectoral indices are trading mixed today with stocks in metal sector and power sector witnessed buying. Meanwhile, stocks in baking sector and telecommunication sector witnessed selling pressure.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at Rs 88.1 against the US$.

Gold prices for the latest contract on MCX are trading 0.01% higher at Rs 104,800 per 10 grams.

Meanwhile, silver prices were trading 0.3% lower at Rs 122,200 per 1 kg.

Speaking of the stock market, research analyst Tanushree Banerjee in her latest video, highlights the growing global appeal of Indian culture, media, and food, which mirrors South Korea's rise post-economic crisis. She highlights the rapid growth in India's digital entertainment, gaming, and cultural exports, signalling potential economic growth and investment opportunities.

She advises investors to focus on sectors like tourism, hospitality, and food, citing companies such as Indian Hotels and ADF Foods as beneficiaries. It also stresses the importance of selecting financially strong companies with a solid track record and considering factors like government policies and intellectual property.

Let's dig deeper into this.

Sharika Enterprise Bags Order from JSW Steel

In the news from engineering sector, shares of Sharika Enterprise surged 19.9% on Tuesday after the company announced that JSW Steel had given it a major order for the provision of cables and accessories.

In accordance with the agreement, the company will provide JSW Steel in Dolvi with 220 KV HT and 33 KV cables as well as accessories.

The purchase order must be completed within six months and has a value of Rs 0.2 billion (bn).

The order shows Sharika's growing presence in high-voltage cable solutions, making it a reliable partner for large industrial projects.

Sharika Enterprises provides smart and sustainable infrastructure solutions, focusing on digital energy systems for cities, industries, and utilities.

They deliver projects like power networks, substation automation, and fibre optic systems, meeting India's infrastructure needs.

CEAT Completes Acquisition of Camso in Sri Lanka

Moving on to the news from tyre sector, Tyre maker CEAT has announced Rs 15. bn investment in Sri Lanka after completing the acquisition of Michelin Group's Camso business, including two plants in Sri Lanka.

The goal of the investment is to increase the Midigama and Kotugoda facilities' capacity to manufacture off-highway tires (OHT) and tracks. Export-oriented production will be the focus of these facilities.

In December last year, CEAT acquired Michelin Group's Camso off-highway tires and tracks business in Rs 19 bn deal, including two manufacturing facilities in Sri Lanka and global rights to the Camso brand.

CEAT will own the Camso brand globally after a 3-year licensing period. Michelin will exit the compact line bias tires and construction tracks business. The deal was expected to complete within 6-9 months.

Camso is a premium brand in construction equipment tires and tracks, strong in EU and North America. This acquisition gives CEAT access to over 40 global OEMs and premium distributors.

Syrma SGS Partners Elemaster for Electronics JV

Moving on to the news from electronics sector, shares of Syrma SGS Technologies Ltd., a manufacturer of electronics components came in focus following the announcement of a strategic joint venture with Italy-based Elemaster.

Syrma SGS has signed a joint venture agreement with Italy's Elemaster S.p.A Tecnologie Elettroniche. The joint venture will operate through Syrma SGS Design and Manufacturing Pvt. Ltd., which will be renamed Syrma SGS Elemaster Pvt. Ltd.

The JV will create a platform in India for high-reliability electronics, serving sectors like railways, industrial, and medical. The facility will be in Bengaluru, covering 20,000 sq. ft, and will have assembly lines for electronics manufacturing.

The JV aims to boost profits, increase business with global clients, and support the Make in India initiative. It combines Syrma's efficient manufacturing with Elemaster's design expertise and European client relationships.

Syrma SGS Chairman said the partnership will drive growth in key sectors and establish India as a global hub for high-tech manufacturing, benefiting customers and stakeholders.

Syrma SGS partnered with South Korea's Shinhyup Electronics in July 2025 to manufacture multi-layer and flexible Printed Circuit Boards (PCBs) in India.

To know what's moving the Indian stock markets today check out the most recent share market updates here.

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