Indian equities ahead of the key Fed meeting scheduled next week ended mildly lower. Nifty ended weak by 0.13 per cent or 23.4 points at 25,356.5, while the 30-share BSE Sensex declined 0.09 per cent or 71.77 at 82,890.94.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

On a weekly basis, the frontline indices have recorded their fourth weekly gain out of 5, with Nifty ending the week to September 13 higher by 2 per cent.

Meanwhile, broader markets continued to rally and the Nifty Midcap 100 index after hitting a new high for the second straight day ended 0.66 per cent higher.

Sectorally, oil & gas and FMCG stocks traded in the negative, while all other sectors saw decent buying action, with the most gains in the PSU Bank and Realty stocks. Nifty IT marked a new high as global brokerages iterate their positive view on the sector amid resilience. 

From the Nifty IT pack, all ten constituents  traded in the green, with gains led by Wipro and Mphasis.

Vinod Nair, Head of Research, Geojit Financial Services on the markets performance said, "The market took a breather and ended on a flat note after the previous day’s sharp uptick. Despite domestic CPI inflation being within RBI's target band, the increase in food prices may influence the central bank to remain prudent on rates"
 
Higher liquidity from FIIs to the domestic market and a slide in US 10-year yield increased the prospects of the FED rate cut, which will aid domestic sentiment, added Nair.

Meanwhile, European markets also traded higher, with the German DAX leading with gains of 0.67 per cent as the focus shifts to the US policymakers' decision on monetary policy next week.