Sensex Ends Flat, Nifty Up 0.23% After Fed Decision
Sensex closes nearly flat while Nifty gains 0.23% as investors assess the US Federal Reserve's policy outcome, with realty and auto stocks leading gains.
Key Highlights:
- Sensex slipped 21.86 points to close at 74,314.59, while Nifty gained 53 points to settle at 23,270.60.
- Nifty is approaching resistance at 23,300, with a sustained break potentially extending gains toward 23,500.
- Tata Motors Passenger Vehicles, HDFC Life and SBI Life emerged as top Nifty gainers, while banking stocks lagged.
- Nifty Midcap and Smallcap indices outperformed the benchmarks, rising 0.92% and 0.76% respectively.
- The rupee is expected to face pressure and could test the 96-per-USD level following the Fed's rate hike announcement.
A Muted Session Amid Global Policy Watch
Indian benchmark indices ended Thursday's session on a muted note as investors assessed the outcome of the US Federal Reserve's policy meeting and its broader implications for global markets. The relatively flat close reflects a market still processing the Fed's decision rather than reacting decisively in either direction.
Closing Numbers
The Sensex slipped 21.86 points, or 0.03 per cent, to close at 74,314.59, while the Nifty gained 53 points, or 0.23 per cent, to settle at 23,270.60, a modest divergence between the two benchmarks that reflects the mixed sectoral performance seen through the session.
Nifty's Technical Picture
Commenting on the Nifty's technical outlook, experts noted that the index is approaching resistance at 23,300. "A sustained break above this level could extend the recovery towards 23,500, while support remains at 23,200 and 23,000," market experts stated, offering a relatively narrow trading band within which the index is currently expected to move in the near term.
