Stock Market Continues Positive Momentum Ahead Of Fed Rate Cut, Bank Stocks Jump

2025-09-17 06:45:29

(MENAFN- IANS) Mumbai, Sep 17 (IANS) Continuing the previous session's gaining momentum, the Indian equities ended the session on a positive note on Wednesday amid buying in heavyweights like SBI, BEL and Maruti Suzuki.

The market remained steady as investors remained cautiously optimistic following prolonged discussions between India and the United States on tariff-related issues.

Sensex ended the session at 82,693.71, up 313 points or 0.38 per cent. The 30-share index opened with a decent gap-up at 82,506.40 against the last session's closing of 82,380.69. The index extended the early gain a bit to hit an intraday high at 82,741.95 following buying in heavyweights.

Nifty closed at 25,330.25, up 91.15 points or 0.36 per cent.

"Markets edged higher in a subdued session on Wednesday, reflecting a positive yet cautious undertone. After a firm start, the Nifty index traded in a narrow range throughout the day before settling at the 25,330.25 level," said Ajit Mishra of Religare Broking.

Sectoral performance was mixed, with IT, banking, and auto emerging as the top gainers, while metals, FMCG, and pharma witnessed profit-taking.

Despite the range-bound move, underlying sentiment remains supported by optimism around policy reforms and robust domestic flows. However, persistent FII selling and caution ahead of the U.S. Fed policy outcome capped the momentum, he added.

SBI, BEL, Kotak Bank, Maruti, Trent, Tech Mahindra, TCS, Mahindra and Mahindra, Tata Motors, Infosys, Asian Paints, Sun Pharma, and L&T were the top gainers from the Sensex basket. While Bajaj FinServ, Titan, ITC, Tata Steel, and Hindustan Unilever settled lower.

The majority of sectoral indices escalated amid a mixed approach. Nifty Fin Services jumped 68 points or 0.26 per cent, Nifty Bank moved 345 points or 0.63 per cent, Nifty Auto surged 148 points or 0.55 per cent, and Nifty IT ended the session 235 points or 0.65 per cent higher. Nifty FMCG fell.

Broader indices remained buoyed due to value buying in small-cap stocks. Nifty Small Cap 100 moved 124 points or 0.68 per cent, Nifty 100 jumped 86.90 points or 0.34 per cent, and Nifty Midcap 100 closed 49 points higher.

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