The Indian stock market resumed its winning streak on Tuesday, September 16, after a one-day pause, supported largely by financials. Strong gains in auto and realty stocks also helped frontline indices to reach an 11-week high.
The Nifty 50 ended the session up 0.68%, closing above the 25,239 mark at 25,232, while the S&P BSE Sensex surged 0.73% to finish at 82,380. Broader markets also recorded sharp gains, with the Nifty Midcap 100 rising 0.54% and the Nifty Smallcap 100 rallying nearly 1%.
Sector-wise, the Nifty Auto index led the gains, rising 1.26%, followed by Nifty Realty and Nifty Media, which added 1.04% and 0.86%, respectively. The Nifty Bank index also advanced 0.50%. On the losing side, Nifty FMCG was the top laggard, slipping 0.42%.
Investors are closely watching trade developments between India and the US, as negotiations are set to resume today. Markets hope these talks will lead to progress toward a potential trade deal, which was put on hold following the White House’s imposition of an additional 25% tariff on Indian imports.
The US Federal Reserve meeting will also be under scrutiny, as expectations rise that the central bank may announce at least a quarter-point cut in interest rates. Weakening economic data, particularly in the labor market, could prompt the Fed to take action after rates have been paused for five consecutive meetings.
Redington, Godfrey Phillips lead the winners list
