Dalal Street opens in green but caution prevails; Fed decision, crude oil keep bulls on edge
Nestlé India led the pack on the Nifty50, followed by Mahindra & Mahindra, ITC, Asian Paints, and HDFC Life Insurance
The Bombay Stock Exchange (BSE) Sensex and the National Stock Exchange (NSE) Nifty 50 both opened higher on Wednesday, September 16, 2026, with the BSE Sensex reaching 74,249.31 and the Nifty 50 closing at 23,201.60, marking a gain of 0.48% and 0.54% respectively. This optimism followed a volatile Tuesday, where the Nifty dropped 279.50 points and the Sensex slipped 778 points from its intraday high.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, cautioned that elevated crude oil prices and looming Federal Reserve policy decisions were weighing on investor sentiment. Major Nifty 50 gainers included Nestlé India, Mahindra & Mahindra, ITC, Asian Paints, and HDFC Life Insurance, while Tata Steel, ONGC, HDFC Bank, NTPC, and Wipro were among the decliners.
Crude oil prices, currently hovering around $108 a barrel, have emerged as a significant headwind, contributing to inflation concerns for oil-importing countries like India. Foreign institutional investors (FIIs) have been selling equities worth a net ₹2,977 crore over the past five sessions, with the US Federal Reserve's upcoming policy meeting expected to deliver further clarity on interest rate movements.
Technical analysis suggests that as long as the market remains below the 23,300 level for the Nifty 50 or 74,400 for the BSE Sensex, the downward correction is likely to persist. Level-based trading with strict risk management is recommended in the face of market volatility.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
