Closing Bell: Nifty 50 Ends Above 23,200; FMCG Gains, IT Slides

Market Update at 04:10 PM: The Indian benchmark equity indices, Sensex and Nifty, ended in green on Wednesday, September 16, recovering from early losses as buying interest in Banking and FMCG stocks supported the broader market. However, elevated crude oil prices and caution ahead of the U.S. Federal Reserve's policy decision continued to weigh on sentiment.

The Nifty 50 witnessed a volatile start, opening at 23,201.60 and slipping towards the Intraday low of 23,116.10 during the early session. The index subsequently recovered steadily as buying interest emerged, lifting it to the day's high of 23,284.75. However, gains moderated during the second half of the session, with the index consolidating largely in the 23,200-23,250 zone.

At close, the Nifty 50 settled at 23,217.60, gaining 99 points or 0.43 per cent and snapping a two-day losing streak. The Sensex also ended higher, rising 332.64 points to close at 74,336.46 after hitting a 13-week low. The Bank Nifty outperformed the benchmark indices, closing 0.77 per cent higher. Meanwhile, India VIX declined more than 2 per cent to around the 13 mark.

Brent crude oil traded around USD 108 a barrel as supply risks intensified. The rise in crude prices followed Saudi Arabia's suspension of oil loading at its Yanbu port and cuts to shipments to Europe. Elevated crude prices remained a key concern for domestic equities, particularly as investors also remained cautious ahead of the U.S. Federal Reserve's upcoming policy decision.

The broader market ended mixed on Wednesday. The Nifty Midcap 100 index gained 0.14 per cent after hitting a one-month low during the session. In contrast, the Nifty Smallcap 100 index declined 0.48 per cent after touching a two-month low.

On the sectoral front, nine of the 11 key sectoral indices ended in positive territory. The Nifty FMCG index emerged as the top sectoral gainer, rising 1.63 per cent and snapping a four-day losing streak. Patanjali shares surged more than 7 per cent during the session.

In contrast, IT stocks witnessed sharp selling pressure. The Nifty IT index declined 1.58 per cent intraday as investors remained cautious toward the sector.

Payment-linked companies remained in focus after the government announced that it would impose a 0.4 per cent merchant discount rate (MDR) on select person-to-merchant transactions above Rs 2,000, effective October 15. Paytm and Yes Bank shares gained 3.64 per cent and 1.21 per cent, respectively.

Cash management companies also witnessed buying interest. Radiant Cash Management and CMS Info Systems rose 5.04 per cent and 3.27 per cent, respectively, amid expectations of increased cash withdrawals following the MDR charges on select UPI transactions.

Saatvik Green Energy gained 5.51 per cent after securing an order worth more than Rs 1,000 crore.

Banking stocks were the biggest contributors to the Nifty 50's gains. SBI was the top contributor, adding 21.04 points to the index, followed by HDFC Bank, which contributed 16.52 points. ICICI Bank added another 13.11 points.

On the other hand, IT stocks and Larsen & Toubro weighed on the index. TCS dragged the Nifty 50 by 13.86 points, while Infosys reduced the index by 13.07 points. Larsen & Toubro contributed a negative 10.96 points.

Market breadth remained in favour of declining stocks on September 16, 2026. Out of 3,662 stocks traded on the NSE, 1,688 advanced, 1,855 declined and 119 remained unchanged.

A total of 53 stocks touched their 52-week highs, while 242 stocks hit their 52-week lows. Additionally, 86 stocks were locked in their Upper Circuits, whereas 199 stocks were locked in Lower Circuits.

Overall, the benchmark indices recovered to close higher, supported by banking and FMCG stocks. However, weak broader-market breadth, elevated crude oil prices and caution ahead of the U.S. Federal Reserve policy decision kept the overall market tone restrained.

Market Update at 2:20 PM: The benchmark indices recovered from their earlier lows and traded higher at 2:14 PM, supported by gains in key sectors despite ongoing market volatility.

As of 2:14 PM on September 16, 2026, the BSE Sensex stood at 74,327.08, reflecting a gain of 323.26 points from the previous close.

The Nifty 50 was trading at 23,237.00, up 118.40 points or 0.51 per cent. The benchmark index showed a recovery during the session after facing volatility earlier in the day.

Earlier selling pressure had weighed on metal, realty and chemical stocks amid a spike in oil prices. The Nifty Realty index had declined 4 per cent, making it the worst-performing sectoral index, followed by the Nifty Chemical index.

Meanwhile, the Nifty IT index remained the only sectoral index in positive territory, gaining 2 per cent.

The broader markets continued to face pressure despite the recovery in the benchmark indices. The Nifty MidCap index declined 2.12 per cent, while the Nifty SmallCap index fell 2.43 per cent.

Bharat Electronics (BEL), Shriram Finance and Adani Enterprises were among the Top Losers in the Nifty 50 index during the session, reflecting continued weakness in several heavyweight stocks.

Market Update at 12:30 PM: The Nifty 50 and the Sensex rose slightly as traders await the US Federal Reserve’s policy decision. 

As of 12:00 PM, the Sensex rose 282.15 points or 0.38 per cent to 74,285.97 and the Nifty 50 was up 95.60 points or 0.41 per cent at 23,214.20. 

Nestle India, ITC, and Mahindra & Mahindra were the Top Gainers in the Nifty50 index.  

In the broader markets, the Nifty MidCap and the Nifty SmallCap fell 0.21 per cent and 0.50 per cent, respectively. 

Sector-wise, the Nifty FMCG, the Nifty PSU Bank, and the Nifty Realty outperformed, while the Nifty IT and the Nifty Pharma underperformed.
 

Market Update at 10:30 PM: The Nifty 50 and the Sensex rose slightly in early trade on Wednesday as traders remained focused on the upcoming U.S. Federal Reserve policy decision.

As of 10:36 AM, the Nifty 50 rose 123.55 points or 0.53 per cent to 23,242.15, while the Sensex gained to 74,364.95.

Within the Nifty 50 index, Nestle India, ITC and Mahindra & Mahindra were the top gainers.

The broader market indices remained under pressure. The Nifty MidCap index declined 0.25 per cent, while the Nifty SmallCap index fell 0.56 per cent.

Among sectoral indices, the Nifty FMCG index rose over 1 per cent to outperform other sectors. The Nifty Pharma index declined the most during early trade.

On the first day of bidding, Hero Motors IPO was subscribed 0.10 times so far, while SS Retail IPO was subscribed 0.07 times.

Jindal Supreme India IPO was subscribed 0.39 times so far.

Market Update at 09:30 AM: Indian benchmark equity indices opened higher on Wednesday as traders awaited the U.S. Federal Reserve’s upcoming policy decision. The positive opening reflected cautious buying in the frontline stocks ahead of the key monetary policy announcement.

As of 9:19 AM, the Sensex rose 373.05 points, or 0.51 per cent, to 74,377.87. The Nifty 50 gained 123.60 points, or 0.53 per cent, to trade at 23,242.20.

Within the Nifty 50, Nestle India, ITC and Mahindra & Mahindra emerged as the top gainers during the early trade.

In the broader markets, the Nifty MidCap index declined 0.25 per cent, while the Nifty SmallCap index fell 0.56 per cent, indicating some weakness in broader market stocks despite gains in the benchmark indices.

Among sectors, the Nifty FMCG index rose more than 1 per cent to outperform other sectoral indices. In contrast, the Nifty Pharma index recorded the sharpest decline during early trade.

Pre-Market Update at 7:40 AM: Indian benchmark indices are likely to witness a cautious opening on Wednesday, with GIFT Nifty signalling a muted start. The outlook remains subdued after the Nifty 50 declined more than 1 per cent on Tuesday, while broader market indices fell more sharply.

Elevated crude oil prices, renewed inflation concerns and uncertainty ahead of the U.S. Federal Reserve’s policy decision are expected to keep investors cautious. Market participants will closely track the Federal Reserve’s September 15–16 policy meeting, with the rate decision due on September 16, particularly amid concerns over the inflationary impact of higher crude prices.

GIFT Nifty traded on the NSE IX was higher by 8.5 points, or 0.04 per cent, at 23,211, signalling a muted opening for Dalal Street on Wednesday.

The overall trend remains bearish, with analysts suggesting that any recovery could face selling pressure. The Nifty 50 has support at 23,000, while resistance has shifted to the 23,350–23,500 zone.

A decisive close below 23,000 could extend the downside towards 22,500–22,600, which is near the weekly 200-SMA.

India VIX, a measure of market volatility, rose 9 per cent to settle at 13.43, indicating increased caution among market participants.

Asian stocks were broadly steady on Wednesday as elevated oil prices and rising bond yields kept investors cautious ahead of the U.S. Federal Reserve’s interest-rate decision.

S&P 500 futures rose 0.1 per cent as of 9:45 a.m. Tokyo time. Hang Seng futures gained 0.3 per cent, while Japan’s Topix rose 0.8 per cent. Australia’s S&P/ASX 200 was little changed, while Euro Stoxx 50 futures advanced 0.3 per cent.

U.S. stocks declined on Tuesday as higher oil prices and rising bond yields added pressure on Wall Street. The S&P 500 fell 0.4 per cent, while the Dow Jones Industrial Average declined 328 points, or 0.6 per cent. The Nasdaq Composite dropped 0.8 per cent.

The following securities are under the F&O ban for Wednesday:

1. SAIL
2. Manappuram
3. Inox Wind
4. Kaynes
5. Bandhan Bank

Securities enter the F&O ban period when their open positions cross 95 per cent of the market-wide position limit.

Foreign portfolio investors remained net sellers in the Indian equity market on Tuesday, offloading shares worth Rs 2,978 crore. Domestic institutional investors, however, remained net buyers, purchasing shares worth Rs 2,686 crore.

The Indian rupee depreciated 38 paise to close at Rs 95.92 against the U.S. dollar on Tuesday. The currency came under pressure amid escalating tensions in the Middle East and rising Brent crude oil prices, which touched USD 108 per barrel.

Indian equities are likely to remain sensitive to movements in crude oil prices, global bond yields, foreign fund flows and developments around the U.S. Federal Reserve’s policy decision. The Nifty 50’s 23,000 level will remain an important technical level for market participants, while the 23,350–23,500 zone could act as immediate resistance.

Disclaimer: The article is for informational purposes only and not investment advice.

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