Indian equity market ended higher for the second consecutive session on September 17 with Nifty comfortably closing above 25,300 amid buying seen in the auto, PSU bank, IT, oil & gas names. Hopes of renewed India-US trade talks and expectation of Fed rate cut tonight also added fuel to the rally.
Despite mixed global markets, the Indian benchmarks opened higher and traded in the green throughout the session, however, final hour selling especially in metal, FMCG, Consumer Durables names erased some of the intraday gains.
At close, the Sensex was up 313.02 points or 0.38 percent at 82,693.71, and the Nifty was up 91.15 points or 0.36 percent at 25,330.25.
Broader indices extended the winning run on ninth consecutive session with Nifty Midcap index ending marginally higher and smallcap index added 0.68%.
Tata Consumer, SBI, BEL, Kotak Mahindra Bank, Maruti Suzuki were among top gainers on the Nifty, while losers included HDFC Life, Tata Steel, Bajaj Finserv, Titan Company, SBI Life Insurance.
Among sectors, FMCG, consumer durables, telecom, metal ended lower while auto, PSU bank, IT, oil & gas rose between 0.5-2.6%.
Also Read: Fed's first rate cut in 2025: Can India catch the flows wave vs peers?
In stock-specific action, PNC Infratech shares jumped 2% on CCI approval for acquisition of Jaiprakash Associates, Mangal Electrical Industries shares shed 7% after Q1 profit declined 31%, Premier Explosives shares added 12% on revocation order from Telangana Pollution Control Board, Lupin shares down 1% on six observations from USFDA.
Aditya Birla Fashion share price added 4% on launching new retail brand OWND, Mahindra Lifespace Developers shares gained 3.7% on winning redevelopment project in partnership, Bharat Electronics share surged 2.5% on winning additional orders worth Rs 712 crore, Gokaldas Exports climbed 4% after ICICIdirect.com upgraded the stock to 'buy' with target of Rs 950, Hyundai Motor India shares rose 2% on long-term wage settlement agreement.
New Listings
Shringar House of Mangalsutra shares ended with 13% gains at Rs 186.90 , after listing with 14% premium over IPO price on the BSE.
Urban Company shares closed at Rs 168.95 (up 64%) after making a strong debut with 57 percent premium over its IPO price.
After a muted start, Dev Accelerator ended 5.5 percent higher on its listing day.
Nearly 160 stocks touched their 52-week highs on the BSE, including Affle 3I, Indian Bank, Dalmia Bharat, Maruti Suzuki, Cummins India, L&T Finance, JSW Steel, Tata Steel, Aadhar Housing, Zydus Wellness, Amber Enterprises, UNO Minda, Manappuram Finance, among others. Click to View More
Outlook for September 18
Ajit Mishra – SVP, Research, Religare Broking
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 25,330.25 level. Sectoral performance was mixed, with IT, banking, and auto emerging as the top gainers, while metals, FMCG, and pharma witnessed profit-taking. Meanwhile, the broader indices maintained their positive bias, with both midcap and small-cap indices closing in the green.
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. On the index front, the Nifty is now inching towards the 25,500 mark, aided by renewed strength in banking and rotational buying across sectors. We recommend continuing with a “buy on dips” approach, with support placed around the 25,050–25,150 zone, while keeping position sizes moderate given the likelihood of higher volatility due to global events.
Shrikant Chouhan, Head Equity Research, Kotak Securities
Today, the benchmark indices continued their positive momentum. The Nifty ended with a gain of 91 points, while the Sensex was up by 313 points. Among sectors, the PSU Bank Index outperformed, rallying over 2.60 percent, whereas consumer and selective Metal stocks registered intraday profit booking at higher levels.
Technically, after a promising opening, the entire day witnessed range-bound activity. However, the short-term market outlook remains positive. We believe that 25,200/82500 and 25,150/82200 are key support zones for trend-following traders. As long as the market trades above these levels, the uptrend is likely to continue. On the higher side, the index could move up to 25,400-25,500/83000-83200. Conversely, below 25,150/82200, traders may consider exiting their long positions
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