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Markets hold gains in late trade
Sep-16-2026

Benchmarks maintained gains in afternoon session supported by gains among Banking stocks after Government introduced a 0.4% fee on transfers worth more than Rs 2,000 made to merchants through UPI payments platform from October 15. The banks, UPI app providers and non-bank payment aggregators are expected to be key beneficiaries of this fee. However, gains remained capped as crude oil prices stayed above the $105-a-barrel mark, despite falling slightly, weighing on investor sentiment. The Brent crude oil was trading above the $108 a barrel amid escalating tensions in West Asia. Besides, traders stayed away from any risky bets ahead of US Federal Reserve’s policy decision. 

On the global front, Asian equity markets were trading mostly in green, while European equity markets were trading higher as bond yields eased from recent highs ahead of the Federal Reserve's interest-rate decision later in the day.

The BSE Sensex is currently trading at 74299.94, up by 296.12 points or 0.40% after trading in a range of 73981.33 and 74505.86. There were 20 stocks advancing against 10 stocks declining on the index.

The top gaining sectoral indices on the BSE were FMCG up by 1.55%, Realty up by 1.12%, Energy up by 0.83%, Oil & Gas up by 0.76% and Bankex up by 0.74%, while IT down by 1.48%, TECK down by 0.93%, Telecom down by 0.61%, Industrials down by 0.31% and Power down by 0.21% were the top losing indices on BSE.

The top gainers on the Sensex were Axis Bank up by 2.31%, ITC up by 2.31%, Bharat Electronics up by 2.09%, State Bank of India up by 1.95% and Trent up by 1.85%. On the flip side, TCS down by 2.47%, Infosys down by 1.37%, Tech Mahindra down by 1.18%, Larsen & Toubro down by 0.82% and Bajaj Finserv down by 0.81% were the top losers.

Meanwhile, citing stronger pricing conditions, healthy domestic demand and improved earnings visibility, the rating agency, ICRA in its latest report has revised its outlook for the domestic primary non-ferrous metal industry to Positive from Stable. It said global supply disruptions and low inventories have pushed non-ferrous metal prices up by 30-40% in the first five months of FY27. If the favourable pricing environment persists, the sector could see operating margins rise by around 400 bps to around 35%.

It said while global demand growth remains subdued for non-ferrous metals, the supply side constraints are likely to support market balances. The aluminium market is projected to remain in a deficit of around 1 million metric tonne (MT), considering continued supply disruptions in West Asia. Restoration of disrupted facilities is expected to remain gradual, supporting elevated aluminium prices through 2026-27. The refined copper market is also anticipated to tighten, owing to movement of inventories to COMEX warehouses amid uncertainty over US tariffs, thereby reducing refined copper availability outside the US market. Similarly, refined zinc supply is expected to remain constrained by weaker mine production and declining ore grades, with global mine output contracting by around 0.5% in 5 months of CY2026.

ICRA expects domestic demand for base metals, including aluminium, copper and zinc, to grow by 8-9% in 2026-27. Nevertheless, domestic production of aluminium and zinc continues to exceed consumption. The situation is likely to persist going forward as domestic capacity is elevated and manufacturers are expected to maintain high utilisation level for the plants. This, in turn, would lead to large export volumes. Encouragingly, off-take risks in the international market would remain low, given the cost competitiveness of the domestic manufacturers. In contrast, lower copper production has created a large deficit in the domestic copper market, resulting in large imports, and the situation is unlikely to improve in the near term.

The CNX Nifty is currently trading at 23229.60, up by 111.00 points or 0.48% after trading in a range of 23116.10 and 23284.75. There were 33 stocks advancing against 17 stocks declining on the index.

The top gainers on Nifty were HDFC Life Insurance up by 2.64%, ITC up by 2.31%, State Bank of India up by 2.22%, Axis Bank up by 2.04% and Nestle India up by 1.92%. On the flip side, TCS down by 3.05%, Wipro down by 1.91%, Infosys down by 1.87%, Tech Mahindra down by 1.44% and Larsen & Toubro down by 1.14% were the top losers.

Asian equity markets were trading mostly in green; Nikkei 225 surged 249.9 points or 0.39% to 63,734.00, Taiwan Weighted added 337.41 points or 0.74% to 45,848.90, Hang Seng advanced 14.76 points or 0.06% to 24,682.00, KOSPI increased 90.71 points or 1.35% to 6,717.97, Straits Times rose 6.88 points or 0.12% to 5,645.52 and Shanghai Composite strengthened 27.32 points or 0.7% to 3,891.60, while Jakarta Composite plunged 7.12 points or 0.11% to 6,454.03.

European equity markets were trading higher; UK’s FTSE 100 increased 40.41 points or 0.38% to 10,698.54, France’s CAC rose 9.62 points or 0.12% to 8,099.90 and Germany’s DAX gained 47.52 points or 0.19% to 25,449.80.
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