Sensex Ends Flat, Nifty Gains 0.23% as Investors Weigh Fed Policy Outcome
Mumbai — Indian benchmark stock indexes ended Thursday’s session on a subdued note as investors assessed the outcome of the U.S. Federal Reserve’s policy meeting and its potential impact on global markets.
The Sensex fell 21.86 points, or 0.03%, to close at 74,314.59, while the Nifty rose 53 points, or 0.23%, to settle at 23,270.60.
Market experts said the Nifty is approaching resistance at 23,300. A sustained move above that level could extend the recovery toward 23,500, while support is seen at 23,200 and 23,000.
Buying was seen in select heavyweight stocks, with Tata Motors Passenger Vehicles, HDFC Life Insurance Company and SBI Life Insurance Company among the top gainers on the Nifty.
Broader markets outperformed the benchmark indexes. The Nifty MidCap index gained 0.92%, while the Nifty SmallCap index rose 0.76%.
Among sectors, Nifty Realty, Nifty Auto and Nifty Metal were among the strongest performers. Banking shares came under pressure, with Nifty Bank, Nifty PSU Bank and Nifty Private Bank among the biggest sectoral decliners.
Analysts said trading remained range-bound as investors weighed the Federal Reserve’s policy decision while monitoring sector-specific moves and broader market sentiment.
The Indian rupee was also expected to remain under pressure following the Fed’s rate hike and indication that further monetary tightening could be needed to bring inflation back toward its 2% target.
Market experts said the spot USD/INR pair remained in an overall upward trend following its recent rise.
Immediate resistance for the pair was seen at 96.25, while support was placed in the 95.40 to 95.75 range. (Source: IANS)
