Sensex, Nifty Settle Slightly Lower Amid Mixed Global Cues

(MENAFN- IANS) Mumbai, Sep 15 (IANS) The domestic benchmark indices closed slightly lower on Monday as investors remained cautious ahead of the US Fed policy meeting. The equity indices remained range-bound amid optimism around strong domestic consumption due to the GST overhaul.

Sensex settled at 81,785.74, down 118.96 points or 0.15 per cent. The 30-share index started the session flat at 81,925.51 against the last session's closing of 81,904.70. The index remained range-bound, hitting intraday high and low at 81,998.51 and 81,744.70, respectively.

Nifty closed at 25,069.20, down 44.80 points or 0.18 per cent.

"Benchmark indices traded largely flat as investors remained cautious ahead of the Fed policy meeting, with the IT index witnessing profit booking after last week's rally. While a 25-bps rate cut is largely factored in, markets await guidance on the future rate path to gauge the trajectory for bond yields," said analysts.

Strong domestic consumption continues to underpin sentiment and limit downside, while renewed optimism around trade deals and an expected earnings recovery in H2 FY26 are further supporting investor confidence, he added.

Asian Paints, Mahindra and Mahindra, Titan, Infosys, Sun Pharma, TCS, and Tech Mahindra were the top losers from the Sensex stocks. Bajaj Finance, Eternal, L&T and Adani Ports settled higher.

Sectoral indices remained range-bound, experiencing subdued interest from investors. Nifty Fin Services closed 29 points or 0.11 per cent higher, and Nifty Bank jumped 78 points or 0.14 per cent. Nifty IT, Nifty FMCG, and Nifty Auto settled in negative territory.

Broader indices showed positive momentum amid buying in mid and small-cap stocks. Nifty Small Cap 100 surged 137 points or 0.76 per cent, Nifty Midcap 100 jumped 258 points or 0.44 per cent, while Nifty 100 settled flat.

According to analysts, the markets took a breather as the Nifty snapped its eight-day winning streak, closing below the 25,100 mark.

A decisive breakout above 25,150 could trigger short covering and potentially lead to a rally toward the 25,300 zone. Given the recent upward momentum, some profit booking at higher levels is expected. Therefore, the preferred strategy would be to buy on dips, they added.

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