Indian benchmark indices Sensex and Nifty are poised to extend gains for a second straight session on September 17, buoyed by optimism around the US Federal Reserve’s policy decision later tonight and signs of progress in US-India trade negotiations. As of 7:45 am, GIFT Nifty was trading around 25,388, up 51 points or 0.2 percent.
Yesterday, the bulls staged a strong comeback after a brief pause, with the Nifty surging 169 points to close at 25,239. Both the Nifty and Nifty Bank broke past key resistance levels, with the Nifty surpassing its August 21 swing high of 25,154, while the Nifty Bank ended above the 55,000 mark for the first time since August 25.
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Broader markets also remained resilient, stretching their winning streak to eight sessions. The Nifty Midcap 100 advanced 0.54 percent, while the Nifty Smallcap 100 rose 0.95 percent.
Going ahead, Hariprasad K, SEBI - registered Research Analyst and Founder - Livelong Wealth said that sustaining above 25,200 could drive the index higher towards the 25,350–25,500 zone, while a breach below 24,950 may trigger short-term weakness.
On the macro front, focus is turning to US-India trade discussions, where chief negotiators recently held the first in-person meeting since tariff tensions escalated. Reports indicated a “positive meeting,” with both sides discussing “next steps” in the talks. The visit also marked the first trip by a senior US trade official to New Delhi after the Trump administration imposed a 50 percent tariff on a majority of Indian goods last month.
Globally, investors are bracing for the US Federal Reserve’s policy outcome, with markets already pricing in a 25 basis point rate cut. Beyond the widely expected move, guidance on the pace of cuts through the year will be closely watched.
On Wall Street, major indices ended lower in volatile trading overnight ahead of the Fed’s decision. The S&P 500 slipped 0.13 percent, the Nasdaq edged down 0.07 percent, and the Dow fell 0.27 percent. Asian equities followed with a modest decline at the open this morning as investors held back in anticipation of the Fed’s rate announcement.
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