Sensex, Nifty snap two-session fall; US Fed outcome in focus for market cues
The 30-share BSE Sensex pack rose 332.63 points or 0.45 per cent to settle at 74,336.45, while the NSE Nifty50 index gained 99 points or 0.43 per cent to end at 23,217.60.
- Sep 16, 2026,
- Updated Sep 16, 2026 4:43 PM IST
Indian equity indices snapped their two-session losing streak on Wednesday, with the benchmark indices closing nearly half a per cent higher amid cautious trading ahead of the US Federal Reserve's policy outcome.
The 30-share BSE Sensex pack rose 332.63 points or 0.45 per cent to settle at 74,336.45, while the NSE Nifty50 index gained 99 points or 0.43 per cent to end at 23,217.60.
Sectoral participation remained mixed, with FMCG, realty and banking stocks emerging among the key gainers, while IT and pharma ended in negative territory.
Among the major Nifty gainers, shares of HDFC Life Insurance Company Ltd, SBI Life Insurance Company Ltd, State Bank of India (SBI), ITC Ltd and Nestle India Ltd advanced up to 2.73 per cent.
The broader market, however, ended marginally lower. Nifty Midcap100 fell 0.01 per cent, while Nifty Smallcap declined 0.18 per cent.
Vinod Nair, Head of Research at Geojit Investments, said, "Indian equities advanced in tandem with Asian markets as easing crude oil prices and a largely priced-in US Fed rate hike improved investor sentiment. The constructive mood was further reinforced by a moderation in Japanese bond yields ahead of the BoJ's policy decision, supporting risk appetite across Asia.
"Domestically, large-cap stocks led the gains, driven by strength in banking, FMCG and automobile counters, while the IT sector witnessed selective profit booking following its recent outperformance. Investors now await the Fed Chair's commentary for deeper insight into the future rate trajectory, with the guidance expected to influence global liquidity conditions, capital flows and the near-term direction of financial markets."
Ajit Mishra, SVP Research at Religare Broking, said, "Markets staged a recovery on Wednesday following the recent sharp sell-off, gaining nearly half a percent and providing some respite from the prevailing weakness. The rebound was supported by buying in select heavyweight stocks; however, gains remained volatile amid elevated crude prices, global uncertainty and caution ahead of the US Federal Reserve’s policy decision."
Brent crude remained elevated near $108 per barrel amid continuing tensions in the West Asia and concerns over possible disruptions to global energy supplies. The rupee also remained under pressure near Rs 95.95 per dollar, while persistent foreign institutional investor (FII) selling continued to weigh on sentiment.
Mishra said markets are likely to react to the outcome of the US Fed meeting and its commentary in early trade on Thursday.
Nifty outlook
On the technical outlook, Nair said, "Technically, Nifty's recovery above 23,200 level provides some near-term relief. However, the broader structure remains weak. The index is likely to face immediate resistance around 23,400–23,600, while 23,000–23,100 remains the crucial support zone.
"A sustained move above 23,600 would be required to signal a meaningful improvement in momentum. Amid the prevailing uncertainties, we maintain a cautious stance and recommend continuing with a hedged approach and selective exposure."
Indian equity indices snapped their two-session losing streak on Wednesday, with the benchmark indices closing nearly half a per cent higher amid cautious trading ahead of the US Federal Reserve's policy outcome.
The 30-share BSE Sensex pack rose 332.63 points or 0.45 per cent to settle at 74,336.45, while the NSE Nifty50 index gained 99 points or 0.43 per cent to end at 23,217.60.
Sectoral participation remained mixed, with FMCG, realty and banking stocks emerging among the key gainers, while IT and pharma ended in negative territory.
Among the major Nifty gainers, shares of HDFC Life Insurance Company Ltd, SBI Life Insurance Company Ltd, State Bank of India (SBI), ITC Ltd and Nestle India Ltd advanced up to 2.73 per cent.
The broader market, however, ended marginally lower. Nifty Midcap100 fell 0.01 per cent, while Nifty Smallcap declined 0.18 per cent.
Vinod Nair, Head of Research at Geojit Investments, said, "Indian equities advanced in tandem with Asian markets as easing crude oil prices and a largely priced-in US Fed rate hike improved investor sentiment. The constructive mood was further reinforced by a moderation in Japanese bond yields ahead of the BoJ's policy decision, supporting risk appetite across Asia.
"Domestically, large-cap stocks led the gains, driven by strength in banking, FMCG and automobile counters, while the IT sector witnessed selective profit booking following its recent outperformance. Investors now await the Fed Chair's commentary for deeper insight into the future rate trajectory, with the guidance expected to influence global liquidity conditions, capital flows and the near-term direction of financial markets."
Ajit Mishra, SVP Research at Religare Broking, said, "Markets staged a recovery on Wednesday following the recent sharp sell-off, gaining nearly half a percent and providing some respite from the prevailing weakness. The rebound was supported by buying in select heavyweight stocks; however, gains remained volatile amid elevated crude prices, global uncertainty and caution ahead of the US Federal Reserve’s policy decision."
Brent crude remained elevated near $108 per barrel amid continuing tensions in the West Asia and concerns over possible disruptions to global energy supplies. The rupee also remained under pressure near Rs 95.95 per dollar, while persistent foreign institutional investor (FII) selling continued to weigh on sentiment.
Mishra said markets are likely to react to the outcome of the US Fed meeting and its commentary in early trade on Thursday.
Nifty outlook
On the technical outlook, Nair said, "Technically, Nifty's recovery above 23,200 level provides some near-term relief. However, the broader structure remains weak. The index is likely to face immediate resistance around 23,400–23,600, while 23,000–23,100 remains the crucial support zone.
"A sustained move above 23,600 would be required to signal a meaningful improvement in momentum. Amid the prevailing uncertainties, we maintain a cautious stance and recommend continuing with a hedged approach and selective exposure."