Indian equities staged a measured recovery on Wednesday, September 16, with value buying emerging in banking stocks and select heavyweight counters following Tuesday’s sharp decline.
The Nifty 50 closed at 23,217.60, gaining 99 points, or 0.43%, from the previous close. The Sensex added 332.63 points, or 0.45%, to settle at 74,336.45.
Broader markets, however, remained under pressure. The Nifty Smallcap 100 declined 0.18%, while the Nifty Midcap 100 slipped marginally by 0.01%.
Among sectoral indices, the Nifty FMCG index gained more than 1.6%, while the Nifty PSU Bank index rose over 1.4%. The Nifty IT index, meanwhile, declined around 1.6%.
Market breadth remained negative, with 1,688 stocks advancing on the NSE against 1,855 declines, while 119 stocks remained unchanged.
The US Federal Reserve’s rate decision and accompanying policy guidance, analysts believe, will determine the next directional move. Balanced commentary could support a further recovery, while a hawkish outlook, renewed strength in bond yields or a move in Brent crude towards $110 could revive selling pressure and limit the market’s rebound.
Here are today’s top gainers on the Nifty
