Last Updated on September 18, 2025 8:54 pm by BIZNAMA NEWS
BIZ DESK
Indian equity benchmarks extended their gains for a third consecutive session on Thursday, buoyed by a US Federal Reserve rate cut and positive global cues. The Fed’s decision to lower rates by 25 basis points (bps) to 4-4.25% and signal further reductions this year boosted market sentiment. The Sensex closed up 320.25 points (0.39%) at 83,013.96, while the Nifty gained 93.35 points (0.37%) to end at 25,423.60. The market’s upward momentum was largely driven by the IT sector, which benefited from the Fed’s dovish stance.
Sector-Wise Performance
Most sectoral indices finished in the green, indicating broad-based buying across the market.
- IT (Information Technology): The IT sector was the top performer, with the Nifty IT index climbing 303 points (0.83%). This surge was a direct result of the US Fed’s rate cut, which generally benefits export-oriented IT companies. Infosys and HCL Tech were among the key gainers in this sector.
- Banking & Financial Services: Both Nifty Bank and Nifty Financial Services indices saw positive movement. Nifty Bank rose 234 points (0.42%), and Nifty Fin Services increased by 135 points (0.51%). Major players like HDFC Bank and Axis Bank contributed to these gains.
- FMCG (Fast-Moving Consumer Goods): The Nifty FMCG index advanced by 201 points (0.36%), supported by value buying. Companies like ITC and Hindustan Unilever closed in positive territory.
- Auto (Automobiles): The Nifty Auto index showed a modest increase, adding 34 points (0.13%). However, some companies like Tata Motors ended in the red.
- Broader Markets: The positive sentiment also extended to the broader market, with the Nifty Midcap 100 rising by 224 points (0.38%) and the Nifty Small Cap 100 gaining 53 points (0.29%). This indicates a healthy market breadth beyond just the large-cap stocks.
Currency and Market Outlook
Despite the market’s positive close, the Indian rupee weakened against the US dollar. The rupee closed at 88.09, down 0.26 against the greenback, even as the dollar index softened post-Fed policy. The cautious sentiment among Foreign Institutional Investors (FIIs) and ongoing India-US trade talks are seen as key factors influencing the rupee’s trajectory. Analysts suggest that the rupee will find support near 87.75 and face resistance at 88.25.
