Nifty Ends Above 23,300
Indian equities gained modestly as lower crude prices and Moody’s upgrade to India’s FY27 growth forecast supported market sentiment.
The Nifty 50 closed above the 23,300 mark on September 18, gaining 75.80 points, or 0.33%, to end at 23,346.40. The Sensex remained almost flat, declining 19.63 points, or 0.03%, to 74,294.96.
Market sentiment was supported by easing crude oil prices and softer global bond yields. Moody’s upward revision of India’s FY27 GDP growth forecast to 7% from 6% also provided support to investor sentiment.
Moody’s cited stronger-than-expected domestic economic activity and resilience amid disruptions linked to the ongoing conflict in West Asia. India’s real GDP growth accelerated to 8.2% year-on-year during the first six months of calendar 2026, supported by private consumption, investment and continued strength in services.
However, Moody’s flagged elevated energy prices and potential El Niño-related food price pressures as risks to inflation, consumption and economic growth. Higher energy costs could also increase government subsidy requirements and put pressure on fiscal consolidation.
Among sectors, metal and realty stocks advanced, while IT and consumer durables shares declined. Bharti Airtel, HDFC Bank and Bajaj Finance were among the stocks supporting the Nifty.
The broader market outperformed the benchmark indices, with the BSE 150 MidCap Index rising 1.30% and the BSE 250 SmallCap Index gaining 1.31%. Market breadth was also positive, with 2,714 BSE-listed shares advancing against 1,618 that declined.
Brent crude for November 2026 delivery declined 1.60% to $103.14 a barrel, while India’s 10-year benchmark government bond yield rose to 7.063%. The rupee was largely steady at 95.8950 against the US dollar.