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Nifty closes at 23,217.60 ahead of US Fed decision
The Hindu BusinessLine··16 Sept
The Nifty 50 settled at 23,217.60 on Wednesday, up 99 points or 0.43 percent, while the BSE Sensex closed at 74,336.45, up 332.63 points or 0.45 percent. Gains stayed limited ahead of the US Federal Reserve decision that night. The Nifty Smallcap 100 fell 0.18 percent for a fifth losing session. Brent crude held near $108. Rupee was near 95.95.
Prism
What It Means For You
- Thursday's open is set to react first to the US Federal Reserve decision and Chair Jerome Powell's guidance.
- Analysts watching Religare Broking flagged 23,400 to 23,600 as a resistance band if the tone turns supportive.
- A fresh crude move toward $110 or a hawkish surprise could press the Nifty back toward 23,000 to 23,100 support.
What's Happening
- The Nifty 50 settled at 23,217.60, up 99 points or 0.43 percent, while the Sensex closed at 74,336.45, up 0.45 percent.
- The Nifty Smallcap 100 fell 0.18 percent for a fifth losing session as breadth stayed weak.
- Brent crude held near $108 and the rupee traded near 95.95 ahead of the Fed night.
What Held Markets Back
- Gains followed a sharp prior-session sell-off, with IT names such as TCS, Wipro, Infosys and Tech Mahindra under pressure.
- FMCG, PSU Banks, Realty and Financial Services led sector gains, while Pharma and Healthcare also ended lower.
- The Nifty has declined over 1,650 points from its August high of 24,772.
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