After opening the day flat, the Indian benchmark turned negative as the session progressed and ended the day lower.

Indian equities ended lower on Monday, with the Nifty 50 breaking an eight-session winning streak, as weakness in IT and auto shares dragged benchmarks lower. Investors turned cautious ahead of the U.S. Federal Reserve's policy decision later this week.

At the closing bell, the BSE Sensex closed lower by 119 points (up 0.2%).

Meanwhile, the NSE Nifty closed 44 points lower (down 0.2%).

Eternal, Bajaj Finance, and Reliance Industries are among the top gainers today.

Asian Paints, M&,M and Cipla, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,181, down by 30 points at the time of writing.

The BSE MidCap index ended 0.4% higher, and the BSE SmallCap index ended 0.7% higher.

Sectoral indices were trading mixed, with stocks in the energy sector and the realty sector witnessing buying. Meanwhile, the stocks in the auto sector and the IT sector are witnessing selling pressure.

The rupee is trading at 88.19 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% lower at Rs 109,110 per 10 grams.

Meanwhile, silver prices were trading 0.3% at Rs 128,440 per 1 kg.
 

Why MIC Electronics' Share Price is Rising

In news from the capital goods sector, shares of MIC Electronics gained up to 6% in Monday's trade after the company said it has secured two letters of acceptance (LoA) worth Rs 17.6 million (m) from Indian Railways.

The order from Sambalpur Division, Odisha, is for the shifting of existing coach indication board systems and auto announcement systems at Amrit Bharat stations. The contract, valued at Rs 1.20 crore, is to be executed within six months, the company said in a filing.

Additionally, the company received an LoA from Integral Coach Factory, Chennai, for the supply of LED emergency lights worth Rs 5.6 m. The work is scheduled to be completed in nine months.

The company is engaged in the design, development and manufacturing of LED video displays and high-end electronics and telecom products.
 

Why Real Estate Stocks are Rising

Moving on to news from the real estate Sector, shares of several real estate companies jumped on September 15, lifting the Nifty Realty index by around 2.6 percent and making it the top sectoral gainer for the day.

The index touched 908 in the afternoon, marking its highest level in 13 sessions. Analysts point to several factors driving this momentum:

Global developments are influencing domestic markets. The US Federal Reserve is set to hold its FOMC meeting from September 16-17, with growing expectations of a rate cut amid weakening jobs data.

Latest figures show the US economy likely created 911,000 fewer jobs in the 12 months through March than previously estimated, reinforcing hopes for lower rates.

Although Indian real estate primarily operates in the domestic market, analysts anticipate that a US rate cut could be followed by similar easing from the Reserve Bank of India.
 

Why IT Stocks Are Falling

Moving on to news from the IT sector, Shares of IT companies came under selling pressure on Monday as investors awaited clarity from the US Federal Reserve on the pace of interest rate cuts.

Infosys was the biggest drag, falling 1.32% to Rs 1,505.40 on the NSE, despite its board approving an Rs 180 bn share buyback last week. Under the buyback, Infosys will repurchase 10 crore fully paid-up equity shares of Rs 5 each, representing up to 2.4% of its total equity, at Rs 1,800 per share.

Tata Consultancy Services and Tech Mahindra also traded lower, dropping up to 1.1%. The Nifty IT index was the top sectoral loser, down nearly 1%, with all 10 constituents in the red, reversing the 0.3% gain recorded in the previous session.

The US Federal Reserve is expected to announce its first rate cut of the year this week amid signs of a cooling labour market, though ongoing political developments are adding uncertainty to the timing and pace of the move.
 

Why VI Shares are Rising

Moving on to news from the telecom sector, shares of Vodafone Idea surged over 6 percent in early trade after reports indicated that the company's case against the Department of Telecom's (DoT) additional Adjusted Gross Revenue (AGR) dues is tentatively listed for hearing on 19 September.

Vodafone Idea had approached the Supreme Court seeking to quash the DoT's additional AGR demand of Rs 9,450 crore, arguing that it exceeds the scope of the Court's earlier ruling on AGR liabilities.

The DoT's extra demand of Rs 2,774 crore pertains to the post-merger entity - Idea Group and Vodafone Idea - following their August 2018 consolidation, while Rs 5,675 crore relates to pre-merger Vodafone Group liabilities.

Vodafone Idea has contested the calculation, citing possible double-counting and requesting a recalculation starting from the pre-FY17 period.

The telecom major has also been engaged in ongoing discussions with banks regarding additional funding, with talks reportedly progressing steadily.

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