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

Indian equity market indices Senex and Nifty ended largely flat on Friday amid a volatile trading session.

At the closing bell, the BSE Sensex closed lower by 7 points.

Meanwhile, the NSE Nifty closed 6 points higher.

M&M, Maruti Suzuki, and Power Grid Corp are among the top gainers today.

ITC, TCS, and Adani Port, on the other hand, were among the top losers today.

The GIFT Nifty was trading at  24,842, higher by 14 points at the time of writing.

The BSE MidCap index ended 0.1% lower, and the BSE SmallCap index ended 0.1% higher.

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

The rupee is trading at Rs 88.0 against the US$.

Gold prices for the latest contract on MCX are trading 0.3% higher at Rs 106,755 per 10 grams.

Meanwhile, silver prices were trading 0.5% higher at Rs 124,574 per 1 kg.
 

Ola Electric Shares Plummet After Softbank Stake Sale

In the news from auto sector, shares of Ola Electric dropped 6% after SoftBank trimmed its 2% stake in the electric scooter maker to 15.68%.

SoftBank's investment arm, SVF II Ostrich (DE) LLC, sold 94.9 million shares of Ola Electric between 15 July and 2 September 2025, crossing the 2% threshold that requires disclosure under capital market regulator's regulations.

SoftBank held 786.6 million shares (17.83%) before the sale and now holds 691.6 million shares (15.68%) after the sale.

SoftBank has been a long-time investor in Ola Electric and remains one of the company's largest institutional shareholders despite the recent stake reduction.
 

Sterlite Technologies Shares Surge on Innovation

Moving on to the news from cable sector, shares of Sterlite Technologies jumped 9% after its US subsidiary had launched the world's slimmest optical fibre for data centre operators, hyperscalers, and telecom service providers in the United States.

The Celesta Intermittent Bonded Ribbon (IBR) Cable, which is designed for jetting in a 14 mm inner diameter duct, boasts a high fibre density, packing 864 fibres in a cable diameter of just 11.7 mm, according to the company.

The new cable can jet up to 4,700 feet in under 20 minutes and uses advanced bend-insensitive fibre for top-notch installation performance.

The company's IBR cable portfolio ranges from 12F to 6912F and has delivered over 10 million fibre kilometres to customers in Europe and the US in the last 5 years.

The CTO of STL, said the new Celesta IBR cable showcases the company's commitment to innovation, offering top fibre density and bend performance in a slim design, enabling efficient and sustainable scaling for hyperscalers and data centres.
 

GMDC Shares Surge on Lignite Expansion

Moving on to the news from mining sector, shares of Gujarat Mineral Development Corporation (GMDC) surged 12% following the government incentive push.

A Rs 150 billion (bn) plan to increase domestic capacity for recycling and producing critical minerals under the National Critical Mineral Mission (NCMM) was recently approved by the Union Cabinet.

This will support companies engaged in mineral exploration, recycling, and production of critical resources.

More than 25% of Gujarat's lignite demand is met by GMDC, the biggest merchant seller of lignite in India. This makes up almost 85-90% of its operating revenue, which will increase dramatically due to government initiatives.

The company's outstanding performance can be attributed to a few internal factors in addition to the new plan.

Efficiency gains and long-term projects helped the company achieve high profitability and margins in Q1FY26.

Along with creating six new lignite blocks with reserves of about 360 MT, the company is also getting ready to expand its Bhavnagar mine. By the end of FY26 or the beginning of FY27, commercial production is anticipated to begin.

GMDC plans to diversify beyond lignite by developing rare earth mineral projects and exploring manganese and copper assets. The company aims to increase revenue from non-lignite minerals to nearly 50% in the medium term from less than 15% currently.

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