Stock market today: Nifty50 ends above 24,750; BSE Sensex up over 70 points

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, ended in green on Monday on the back of firm global cues. The stock markets ended positively following strong global market performance and anticipated US Federal Reserve rate reduction this month.NSE Nifty finished at 24,773.15, increasing by 32.15 points or 0.13 per cent. The BSE Sensex concluded at 80,787.30, rising by 76.54 points or 0.09 per cent, despite late-session profit booking.Among Sensex companies, Tata Motors led with 3.97 per cent growth, followed by Mahindra & Mahindra at 3.96 per cent. Maruti, Adani Ports, Bajaj Finance and UltraTech Cement also showed positive performance. Conversely, Trent fell 3.81 per cent, alongside declines in Asian Paints, HCL Tech, Tech Mahindra, L&T, TCS, Power Grid and Sun Pharma."The domestic market failed to sustain its early gains as a late-session sell-off reflected the prevailing 'buy-on-dips, sell-on-rallies' strategy, highlighting investor caution. Auto and ancillary stocks continued to rally on expectations of demand recovery following GST rate cuts, while IT remained weak amid global uncertainties."Globally, sentiment improved after soft US jobs data raised hopes of a Fed rate cut in September," stated Vinod Nair, Head of Research, Geojit Investments Limited.Asian markets showed positive results, with gains in South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite and Hong Kong's Hang Seng. European markets traded higher, while US markets closed lower on Friday.The August employment report revealed only 22,000 new American jobs, with unemployment rising to 4.3 per cent from 4.2 per cent, strengthening expectations of a US Fed rate reduction.FIIs sold equities worth Rs 1,304.91 crore on Friday, while DIIs purchased stocks worth Rs 1,821.23 crore. Brent crude oil increased 1.88 per cent to USD 66.73 per barrel.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)