Market Wrap, 17 June 2026: Markets Bullish On Fed Policy Outcome; PSU Banks Lead

The Sensex and the Nifty 50 ended the day on a positive note. This, as investors awaited the outcome of the US Federal Reserve’s policy meeting later in the day. It is expected that the US Federal Open Market Committee will keep the federal funds target rate unchanged at 3.5% to 3.75%.

While no rate change is widely anticipated, investors are closely watching the Fed’s commentary on inflation and economic growth.

At the closing bell:

• Nifty 50 stood at 24,085.70, up 0.40%

• Sensex stood at 77,155.62, up 0.45%

Broader Markets Extend Gain

Broader markets outperformed the benchmark indices during the session. The Nifty Midcap 100 index ended 0.52% higher. The Nifty Smallcap 100 index closed 0.79% up. Sector-specific action remained mixed.

The Nifty PSU Bank index gained among sectoral indices. Consumer durable stocks also witnessed strong buying support. They ranked among the best-performing sectors during the session, pushing the Nifty Consumer Durables index up. In contrast, real estate and automobile stocks came under pressure, which dragged down the Nifty Realty and Nifty Auto (see table)

Other Important Headlines

Here are the other major news items of the day:

• Tata Consultancy Services inked a multi-year partnership with Elopak ASA for transforming its IT operations.

• Adani Green Energy Ltd is looking forward to raising around $1 billion via an offshore loan in its first overseas borrowing after coming out of legal troubles in the US.

• As per reports, Reliance Jio Infocomm may file its draft papers for its $4 billion initial public offering (IPO) before Friday's annual general meeting.

Also Read- India And Canada Advance Trade Deal Talks, Plan New Security Agreement

Gold And Silver Watch

Gold and silver prices edged lower on the Multi-Commodity Exchange as investors remained cautious over the US-Iran peace deal and the Fed's policy meeting. At 15:41, gold June futures on the MCX stood at ₹1,52,748 per 10 grams, down 0.22%. July silver futures during the same time stood at ₹2,48,950 per kg, down 0.46%.

The next few trading sessions are likely to be driven by the Federal Reserve's policy statement and comments from policymakers. A status quo on rates is largely factored into market expectations. The focus will therefore remain on guidance related to inflation, growth, and future rate actions.

Sources:

Moneycontrol

Business Standard

The Economic Times