Sensex flat, Nifty tests 25,100 as traders await Fed policy outcome; auto stocks extend gains

Bulls on hold: Sensex and Nifty open flat; auto stocks lead gains

Indian benchmark indices Sensex and Nifty started on a subdued note on September 15, as bulls paused for breath after last week’s powerful rally. Early trade was marked by mild price swings as investors awaited fresh triggers to define direction. The spotlight now shifts to the US Federal Reserve’s policy outcome later this week, which is expected to provide crucial cues for global markets.

At open, the Sensex slipped 47.87 points, or 0.06 percent, to 81,856.83, while the Nifty was lower by 22.15 points, or 0.09 percent, at 25,091.85. Market breadth leaned positive with 1,699 stocks advancing, 1,159 declining, and 209 remaining unchanged.

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On the sectoral front, the Nifty Auto index extended its winning streak into a second consecutive session, buoyed by gains in Maruti Suzuki, Tata Motors, Bajaj Auto, and TVS Motor.

Conversely, the Nifty IT index witnessed profit-booking, shedding nearly one percent as heavyweights like TCS, Infosys, HCL Technologies, and Wipro came under selling pressure.

Broader markets continued to outpace the frontline indices in early trade, underscoring resilient participation beyond the benchmarks. Meanwhile, India VIX, a gauge of near-term market volatility, ticked up by 3 percent, reflecting heightened caution among traders.

From a technical perspective, Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking, noted that Nifty remains comfortably positioned above its 20-day, 50-day, and 200-day exponential moving averages (EMAs), signalling a firmly bullish undertone. As long as the index sustains above these averages, market sentiment is likely to remain constructive.

On the upside, resistance is pegged at 25,160, followed by 25,250 and 25,500. On the downside, support levels are placed at 25,000 and 24,900, with a decisive breach below 24,750 likely to trigger deeper selling pressure.

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