Indian markets closed higher on Wednesday even as global cues turned turbulent overnight, after the US Federal Reserve raised interest rates for the first time in three years, triggering a slide on Wall Street and a fresh sell-off in crypto. Here’s everything you need to know about markets this morning.
📈 Indian Stock Market Today
The Sensex closed at 74,336.40, up 332.63 points (+0.45%), while the Nifty 50 settled at 23,217.60, up 99 points (+0.43%), snapping a two-session losing streak as traders positioned ahead of the Fed outcome. Bank Nifty outperformed, jumping 497.70 points (+0.89%) to 56,292.40. FMCG (+1.63%) and PSU Banks (+1.44%) led sectoral gains, while IT stocks dragged, falling 1.58% on profit booking. HDFC Life (+2.73%), SBI Life, SBI, ITC and Nestle India were the top gainers; TCS (-2.76%), Wipro, Infosys, Tech Mahindra and L&T were the biggest laggards. FIIs remained net sellers at ₹2,978 crore, while DIIs bought ₹2,686 crore, cushioning the market from foreign outflows. The rupee stayed under pressure, hovering near 96 against the dollar.
₿ Crypto Market Update
Bitcoin extended its slide, down 3.3% over 24 hours to around $75,886 (roughly ₹72.8 lakh), while Ethereum fell 4.6% to about $2,404 (roughly ₹2.31 lakh). The declines came after the US Senate’s Digital Asset Market CLARITY Act failed a key procedural vote, a setback for hopes of clearer crypto regulation. Galaxy Digital CEO Mike Novogratz called the outcome disappointing, pointing to 18 months of bipartisan work unravelling over ethics provisions. The Fed’s rate hike added to the pressure on risk assets as bond yields spiked sharply.
💰 Today’s Key Rates at a Glance
| Asset | Price | Change |
|---|---|---|
| Nifty 50 | 23,217.60 | +0.43% |
| Sensex | 74,336.40 | +0.45% |
| Bank Nifty | 56,292.40 | +0.89% |
| Bitcoin (BTC) | ₹72.8L / $75,886 | -3.3% (24h) |
| Ethereum (ETH) | ₹2.31L / $2,404 | -4.6% (24h) |
| Gold (10g, 24K) | ₹1,53,550 | Unchanged |
| Silver (1kg) | ₹2,31,340 | +1.13% |
| USD/INR | ₹96.07 | -0.06% |
| Crude Oil (Brent) | $108.11 | Elevated on supply risk |
📰 Top 5 Financial News Stories This Morning
- US Fed hikes rates for the first time in three years — The Federal Reserve raised its benchmark rate by 25 basis points to 3.75%-4%, citing inflation stuck at 3.4% due to surging energy costs from the US-Iran conflict. Chair Kevin Warsh said the move would “support a timelier return” to the 2% inflation goal, with one more hike flagged before year-end — a shift that raises borrowing costs globally, including for Indian companies with dollar debt.
- Wall Street tumbles as bond yields spike — The Dow sank roughly 600 points (-1.2%) and the S&P 500 fell 0.4% after the Fed decision, as the 10-year Treasury yield crossed 5% for the first time since 2007. Early post-announcement gains reversed sharply during Warsh’s press conference, a risk-off mood that could weigh on Indian IT and export stocks with US exposure today.
- Crude oil holds above $100 a barrel on Middle East tensions — Brent crude traded near $108/barrel as fallout from the US-Iran conflict keeps supply risks elevated; US diesel prices hit a record $6.31/gallon. Sustained high oil prices are a key driver of the inflation pressure central banks are now fighting, and a headwind for oil-importing India.
- Crypto slumps after US Senate crypto bill fails — Bitcoin and Ethereum both fell sharply after the Digital Asset Market CLARITY Act failed a procedural Senate vote over ethics-related concerns, dashing hopes for near-term regulatory clarity in the world’s largest crypto market and dragging global sentiment lower.
- Sensex, Nifty rise ahead of Fed outcome, but rupee stays weak — Domestic indices snapped a two-day losing streak on strength in FMCG, banking and PSU bank stocks, even as the rupee held near 96 per dollar and FIIs continued net selling. Analysts flagged resistance at 23,400–23,600 on the Nifty and support at 23,000–23,100.
🔍 What to Watch Today
Traders will track early cues from GIFT Nifty and how Indian markets digest the Fed’s hike and Chair Warsh’s commentary, with IT and export-linked stocks in focus given the risk-off move on Wall Street. The rupee’s trajectory near the 96/dollar mark and crude oil’s climb above $100 a barrel remain key variables for inflation-sensitive sectors. On the primary market front, watch subscription numbers for the ongoing Hero Motors IPO (1.01x on day one) and the trading debut momentum of Kanohar Electricals, which listed with a nearly 9% premium.
Data sourced from live market feeds. Last updated: 08:00 IST, 17 September 2026. This is for informational purposes only and not investment advice.
