Marico Gains, Vodafone Idea Hits 52-Week Low, Canara Bank Slips Amid PSU Bank Decline

Market Snapshot

• Indian markets fell for the third straight session on September 6, with Nifty nearing 24,800 and Sensex dropping below 81,000 ahead of US jobs data release.
• All sectoral indices, including auto, PSU banks, oil & gas, telecom, IT, and realty, declined by 1-3 percent.
• The BSE midcap index dropped 1.4 percent, while the smallcap index fell 1 percent after hitting a new record high.

Sectoral Trends

Sector Name	% Change	Sector Name	% Change
NIFTY MIDSMALL HEALTHCARE	-0.2	NIFTY FMCG	-0.8
NIFTY HEALTHCARE INDEX	-0.3	NIFTY CONSUMER DURABLES	-0.8
NIFTY PHARMA	-0.5	NIFTY REALTY	-1.0
NIFTY METAL	-0.6	NIFTY IT	-1.0

Technical Outlook: Key Indices

Indices Name	Support	Resistance
Nifty	24,780	25,000
Bank Nifty	50,300	51,000

Top News

• Marico rose 3.6% in a muted market, with over 57 lakh shares traded—more than double the one-month average of 23 lakh shares.
• Vodafone Idea dropped over 11% to a 52-week low after Goldman maintained its ‘Sell’ rating, raising the target price to ₹2.5 from ₹2.2, signaling an 83% downside. The company struggles with cash flow and market share recovery.
• Canara Bank shares dropped 4.3% as the Nifty PSU Bank index fell 3%, extending a 4% decline over the month. September seasonality may be a factor, with negative returns in 8 of the last 13 years.
• Shree Tirupati Balajee IPO gets strong response on Day 2

• Bajaj Housing Finance announces Rs 66-70 price band for Rs 6,560 crore IPO
• Ather Energy plans to file for Rs 4,000-crore IPO at $2 bn valuation

Top Gainers and Losers

Focus Smallcase Updates

• The Prime Five smallcase has delivered over 18% in just three months since its launch, significantly outperforming the benchmark index.

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