Indian Market Closes Marginally Higher
The Nifty 50 closed at 23,272.90, advancing 55.30 points or 0.24%, in a subdued session on September 17. The Sensex ended at 74,338.92, largely flat on the day. The session was marked by choppy trading as investors awaited cues from the U.S. Federal Reserve's policy decision.
Intraday volatility characterized the cash market, with Nifty swinging between 23,118.60 and 23,278.60 during the day. The index opened at 23,195.25 and spent most of the morning session in negative territory before clawing back into positive territory by the close. Market breadth was mixed, with 35 Nifty stocks closing in the green.
| Index | Close | Change | % Change |
|---|---|---|---|
| Nifty 50 | 23,272.90 | +55.30 | +0.24% |
| Sensex | 74,338.92 | ~0 | ~0.00% |
Sectoral Action: Banking and IT Weigh
The Nifty Bank index dragged, closing at 56,105.50, down 186.95 points, reflecting weakness in heavyweight banking stocks. The IT sector also remained under pressure, with the Nifty IT index shedding 43.60 points to settle at 29,044.05. Sector-specific headwinds and profit-booking weighed on these key indices.
Top losers included SBI Card, which dropped 36.61 points to 618.60, and Bank of Maharashtra, which fell 4.65 points to 79.56. Apar Industries declined ₹950 to ₹16,550, while Prestige Estate shed ₹81 to ₹1,417. The broader market showed mixed sentiment as investors remained cautious ahead of the Fed outcome.
GIFT NIFTY Tracks Volatile Session
GIFT NIFTY ended Session I at 23,332.50, up 192.50 points or 0.83% from the previous close of 23,140.00. The contract opened at 23,217.50 and traded in a wide intraday range of 205 points, hitting a high of 23,405.00 and a low of 23,200.00.
| Metric | Level |
|---|---|
| Open | 23,217.50 |
| High | 23,405.00 |
| Low | 23,200.00 |
| LTP | 23,332.50 |
| Change | +192.50 (+0.83%) |
The contract witnessed sharp swings through the overnight and morning session, dipping as low as 23,069.50 during the early Asian hours before staging a strong recovery. GIFT NIFTY rallied sharply during the Indian cash market close, surging from 23,286.50 at 16:00 to touch the session high of 23,405.00 by 14:50 IST equivalent, reflecting strong buying interest in late trade.
Market Outlook
GIFT NIFTY heads into Session II at 23,332.50, holding near the upper end of today's range, as global investors await the Fed's interest rate decision and commentary on the economic outlook.