Mumbai — Indian benchmark stock indexes ended on a muted note Thursday as investors assessed the outcome of the U.S. Federal Reserve’s policy meeting and its implications for global markets.
The Sensex fell 21.86 points, or 0.03%, to close at 74,314.59, while the Nifty gained 53 points, or 0.23%, to settle at 23,270.60.
Market analysts said the Nifty is approaching resistance at 23,300. A sustained move above that level could extend the recovery toward 23,500, while support is seen at 23,200 and 23,000.
Buying interest was seen in several heavyweight stocks, with Tata Motors Passenger Vehicles, HDFC Life Insurance Company and SBI Life Insurance Company among the top gainers on the Nifty.
Broader markets outperformed the benchmark indexes. The Nifty MidCap index rose 0.92%, while the Nifty SmallCap index advanced 0.76%.
Among sectors, real estate, auto and metal stocks were among the strongest performers. Banking shares remained under pressure, with the Nifty Bank, Nifty PSU Bank and Nifty Private Bank indexes among the biggest sectoral decliners.
Analysts said the market remained range-bound as investors weighed the Federal Reserve’s policy decision while tracking sector-specific moves and broader market sentiment.
The Indian rupee was also expected to remain under pressure following the Fed’s announcement of a rate increase and indications of further policy tightening aimed at bringing inflation toward its 2% target.
Analysts said the USD/INR pair remains in an overall upward trend following its recent advance, with immediate resistance near 96.25 and support in the 95.40 to 95.75 range. (Source: IANS)
