Stock Market Open Report Today, September 17, 2026: Sensex, Nifty Rise Amid Fed Rate Hike, NSE IPO

Mumbai, Sept 17: Indian benchmarks traded higher on Thursday, even as the US Federal Reserve hiked rates and the NSE IPO launching today threatened liquidity in the secondary markets. Oil prices stayed largely flat as Asian markets traded mixed on Thursday morning. Some optimism carries over from Wednesday’s rebound, when banking, financial and FMCG stocks helped the Nifty and Sensex snap a two-session losing streak. The Rs 22,569-crore NSE IPO opens for subscription today, priced in a band of Rs 1,700-1,785 per share, and stays open until September 21. The much-awaited listing, one of the largest of the year, threatens to draw liquidity away from secondary markets.

The Fed raised its benchmark rate by 25 basis points to the 3.75-4.00 per cent range on Wednesday, with new chair Kevin Warsh joining a unanimous decision that effectively acknowledged the Trump administration’s struggle to control inflation. The move reflects persistent inflation pressure from Trump’s global import tariffs, the energy shock following the start of the US-Israeli war with Iran, and heavy capital spending tied to the artificial intelligence boom.

Sensex & Nifty

The BSE Sensex was up 0.3 per cent and the Nifty 50 was up 0.4 per cent as of 10:15 am, even as the NSE IPO competed for attention.

Gainers & Losers 

Among Nifty gainers, Bharat Electronics (BEL) led, rising 1.89 per cent to Rs 393.05 from a previous close of Rs 385.75. Bajaj Finance (BAJFINANCE) climbed 1.3 per cent to Rs 1,019.30 against Rs 1,006.20. Eternal (ETERNAL) advanced 0.95 per cent to Rs 320 from Rs 317. Shriram Finance (SHRIRAMFIN) gained 0.91 per cent to Rs 987.90 versus Rs 979. Asian Paints (ASIANPAINT) rose 0.89 per cent to Rs 2,438 from Rs 2,416.60, rounding out the top five gainers.  

On the losing side, ONGC (ONGC) fell 1.06 per cent to Rs 234.30 from Rs 236.80. HDFC Bank (HDFCBANK) declined 0.94 per cent to Rs 714.70 versus Rs 721.50. Tech Mahindra (TECHM) slipped 0.72 per cent to Rs 1,546.80 from Rs 1,558. HCL Technologies (HCLTECH) eased 0.62 per cent to Rs 1,245.20 against Rs 1,253, while Bajaj Auto (BAJAJ-AUTO) declined 0.6 per cent to Rs 11,523 from Rs 11,593, rounding out the top five losers. The mix of gainers and losers, spanning defence, financials, consumer and IT names, underlined how stock-specific Thursday’s early trade has been rather than reflecting any single dominant theme. 

Broad Market & Sectoral Indices

Among broader market indices, the Nifty Midcap Select, Nifty Next 50 and Nifty Smallcap 100 led, up 0.47 per cent, 0.45 per cent and 0.41 per cent, while the Nifty Bank, Nifty Financial Services and Nifty 50 lagged, with Nifty Bank flat and the other two up 0.12 per cent and 0.18 per cent.  

Sectorally, the Nifty India Defence index led with a 0.74 per cent gain, followed by Nifty PSU Bank, up 0.50 per cent, and Nifty FMCG, up 0.46 per cent. On the downside, Nifty IT fell 0.28 per cent, Nifty Media declined 0.21 per cent, and Nifty Private Bank slipped 0.09 per cent, as Fed rate-path concerns weighed on IT exporters and rate-sensitive financials. The broader market’s stronger showing relative to the frontline indices suggests some of the risk appetite that drove Wednesday’s rebound has carried into Thursday’s session, even if the headline benchmarks themselves are moving only marginally. 

Asian & US Markets 

Asian markets were mixed on Thursday morning, with Australia’s All Ordinaries up 0.38 per cent to 8,908.60 and Indonesia’s Jakarta Composite rising 0.53 per cent to 6,470.96, even as most other regional gauges struggled for direction. Hong Kong’s Hang Seng and Pakistan’s KSE 100 were among the region’s weaker performers, falling 1.05 per cent to 24,453.33 and 0.81 per cent to 168,021.80, respectively, as investors across the region digested the Fed’s hawkish signal. 

US markets ended lower on Wednesday, with the Dow Jones Industrial Average leading the declines, falling 1.21 per cent to 51,461.90 as the Fed’s rate hike and hawkish guidance weighed heavily on sentiment. The S&P 500 declined 0.45 per cent to 7,551.81, while the Nasdaq Composite was comparatively resilient, nearly flat and down just 0.01 per cent at 25,978.42. 

Oil Prices 

Oil prices stayed largely flat, with Brent crude down 0.19 per cent at $105.63 a barrel and WTI crude off 0.28 per cent at $102.14. The Indian Basket, more relevant for domestic inflation and the country’s import bill, rose 1.93 per cent to $131.19, even as the OPEC Basket gained 1.23 per cent to $124.63. Crude remains well above the levels seen before the Gulf conflict escalated, keeping India’s import bill, the rupee and the broader inflation trajectory under close watch heading into the festive season. 

Iran War 

Saudi Arabia intensified its air campaign against Yemen, carrying out as many as 450 air strikes on Houthi positions this week, while Houthi fighters struck back with fresh drone and missile attacks on the Red Sea oil port of Yanbu and a southern Saudi airbase at Khamis Mushait. The Houthis also claimed to have shot down a Saudi F-15 fighter jet, though no immediate evidence was presented to support the claim. The United States tightened its travel warning for Saudi Arabia, barring government employees from travelling within 20 miles of the Yemen border, a sign of how the conflict is drawing in new fronts. Both sides have shown little appetite for de-escalation, with Riyadh and the Houthis trading near-daily strikes over the past week. 

Indian Markets on Wednesday 

The Sensex gained 332.63 points, or 0.45 per cent, to close at 74,336.45 on Wednesday, while the Nifty advanced 99 points, or 0.43 per cent, to 23,217.60, snapping a two-session losing streak that had taken the Nifty to a five-month low. Banking, financial and FMCG stocks led the recovery, with SBI Life, HDFC Life, ITC, Axis Bank and State Bank of India among the top gainers, even as IT and pharma stocks lagged on concerns about the Fed’s rate path. Market breadth stayed weak, with 1,913 stocks advancing against 2,241 declining on the NSE, suggesting Wednesday’s gains were driven by selective buying in heavyweight stocks rather than a broad-based recovery. 

Taken together, Thursday’s session sits at the intersection of three unresolved threads: a widening war in the Gulf with no clear diplomatic off-ramp, a Fed that has turned more hawkish just as emerging markets were hoping for relief, and a marquee domestic listing in the NSE IPO that could absorb liquidity even as it draws headlines. Investors are likely to stay selective, favouring defensive and domestically oriented sectors like FMCG and PSU banks over export-facing IT and pharma names, until there is more clarity on either the geopolitical situation or the Fed’s next move. With Brent still trading close to $106 a barrel and the Saudi-Houthi conflict showing no signs of resolution, market participants said volatility is likely to persist through the rest of the week. 

Source

• NSE
• BSE
• https://www.reuters.com/world/iran/
• https://www.reuters.com/business/warshs-words-may-matter-more-than-anticipated-fed-rate-hike-2026-09-16/
• https://www.oilprice.com
• https://www.reuters.com/markets/asia/