Overview

• Benchmarks closed higher on September 16, with the Sensex at 82,380.69 (+594.95) and the Nifty at 25,239.10 (+169.90) after an intraday Sensex peak of 82,443.48.
• An official said chief negotiators from India and the United States have begun discussions on a proposed trade agreement to address tariff-related uncertainties.
• Market sentiment also reflected expectations for a 25 basis-point rate cut at the US Federal Reserve’s imminent policy decision.
• Kotak Mahindra Bank, Larsen & Toubro, Mahindra & Mahindra, Maruti, Bharti Airtel and Tata Steel advanced, while Asian Paints and Bajaj Finance declined; small- and mid-cap indices gained roughly 0.6%.
• Foreign institutional investors sold Rs 1,268.59 crore of equities on Monday even as the rupee appreciated to 88.09 against the US dollar.