The BSE Sensex and NSE Nifty rallied on Friday on expectations the Reserve Bank of India (RBI) will have scope to cut its key lending rate later this month after the US Federal Reserve kept its interest rates unchanged. Nifty closed 82.75 points, or 1.05 per cent, up at 7,981.90. Sensex advanced 254.94 points at 26,218.91.In the 50-share index, Axis Bank, ONGC, NMDC, Kotak Mahindra Bank and Bank of Baroda gained between 3.90 per cent and 5.20 per cent. On the other hand, Bajaj Auto, Hindalco, Cipla, Tata Motors and ITC declined between 1.5 per cent and 3.30 per cent.

Rate-sensitive stocks remained in focus on Friday on rate cut hopes. CNX Realty index, CNX Auto index and Bank Nifty jumped 2.36 per cent, 0.56 per cent and 2.62 per cent at 171.10, 7,842.55 and 17,409.15, respectively.Gaurav Jain, director, Hem Securities, said, “Markets shines on US Fed holding rate hike decision with Nifty crossing 8,000 level. Sharp appreciation in rupee and a rate cut by the RBI in its monetary policy next week also boosted the sentiment of the street.???Dhananjay Sinha, head of research, economist & strategist, Emkay Global Financial Services, said, “The unchanged Fed rate provides scope for RBI to reduce rates which we expect to be lowered by 25 basis points on September 29,2015.???SKS Microfinance closed 15.55 per cent down at Rs 380.65 on NSE after the company failed to bag the small bank license from the Reserve Bank of India.

Tata Steel on Friday sold 1.33 per cent stake in group firm Tata Motors to institutional investors for Rs 1,250.69 crore. The company said it will also sell similar stake in Tata Motors to its promoter firm Tata Sons for an amount not exceeding Rs 1,250 crore as part of portfolio restructuring. The share price of Tata Motors declined 1.69 per cent to Rs 332.35.The FIIs were net sellers in the cash market segment on 16 September 2015, Wednesday sold shares worth Rs 337.27 crore. But the DIIs on the other hand were net buyers on 16 September, bought shares worth Rs 423.81 crore in the capital markets segment.Asian peers, Hang Seng and Shanghai closed 0.30 per cent and 0.38 per cent up at 21,920 and 3,098 while Nikkei closed 1.96 per cent down at 18,070.The European markets slipped as the decision of the Federal Reserve to hold its interest rates steady fuelled the concerns on the global growth.

Source : http://www.financialexpress.com/article/markets/indian-markets/bse-sensex-nse-nifty-stock-market-today-us-fed-september-18-2015/137606/

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