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yesterday

Fed Decision and WPI Data Set the Tone for Indian Stocks This Week

Markets position for a probable Fed cut with Nifty pressed against key 25,200 resistance.

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A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei Kato/File Photo
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Stock Market

Overview

  • Investors look to the Sept. 16–17 FOMC meeting, where a 25-basis-point cut is widely expected and any surprise on size or guidance could jolt risk assets.
  • India’s August wholesale price inflation prints on Sept. 15, with Bloomberg projecting about 0.30%, giving a fresh read on domestic price trends.
  • Nifty closed Friday at 25,114 after an eight-session rise and the Sensex logged a five-day advance, with pharma, IT, auto and financials leading as FMCG, PSU banks, media and realty lagged.
  • Technicians flag resistance for Nifty at 25,150–25,200 and see a sustained break pointing to 25,500–25,700, while support sits around 24,900–25,000.
  • Flows remain a swing factor as FIIs turned net buyers in two of five sessions, including Rs 129.58 crore on Friday, while progress in India–US trade talks could buoy sentiment with a first-phase deal targeted by November.