Indian equity indices bounced back and snapped a two-day losing streak on September 16, with Nifty finishing above 23,200 supported by broad-based buying across sectors, barring IT, while easing oil prices also provided some relief to the market.

Amid mixed global cues, the market opened higher but came under pressure in the initial hours. However, sustained buying in FMCG, realty and financial stocks helped the benchmarks remain in positive territory for rest part of the session. Investors remained cautious ahead of the US Federal Reserve's monetary policy decision, with markets pricing in its first rate hike since 2023.

At close, the Sensex was up 332.63 points or 0.45 percent at 74,336.45, and the Nifty was up 99.00 points or 0.43 percent at 23,217.60.

Broader markets underperformed the benchmark indices, with the Nifty Midcap 100 index ending flat, while the Nifty Smallcap 100 index closed marginally lower.

The top Nifty gainers were SBI Life Insurance, HDFC Life, ITC, Axis Bank and SBI, while TCS, Wipro, Infosys, Tech Mahindra and Bajaj Finserv were among the major losers.

Among sectors, all indices ended in the green except IT (down 1.5%) and pharma, with FMCG and PSU Bank gaining more than 1% each.

More than 200 stocks touched 52-week low, including HEG, Afcons Infrastructure, Whirlpool of India, IRCTC, MedPlus Health Services, Indian Renewable Energy Development Agency, Jupiter Wagons, United Breweries, NSDL, EID Parry, UPL, Cello World, Ircon International, IEX, CIE Automotive India, Shree Cement, Rail Vikas Nigam, Ambuja Cements, Kama Holdings, India Cements, among others.

Among individual stocks, Exide Industries gained 1.4% after it entered into an agreement with ExCom Energy Solutions GmbH, Germany. Saatvik Green Energy rose 5% after receiving an order worth ?1,041.63 crore from Solar Energy Corporation of India (SECI) for the supply of solar PV modules.

Sonata Software declined 1.2% despite its arm, Sonata Information Technology, signing a five-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS). India Pesticides gained 4% after obtaining Technical Equivalence approval in the UK and registration for one of its herbicide products in Argentina.

VIP Industries advanced 2% after the company said its board will meet on September 18 to consider a proposal to raise funds. Aurobindo Pharma fell nearly 1.4% after the USFDA issued one observation at its facility.

The Indian rupee ended flat at 95.95 per dollar on Wednesday, compared with the previous close of 95.96.


New Listings

Kanohar Electricals shares ended 19.3% higher at Rs 754 after debut with more than 8 percent premium at Rs 685.50 per share on the NSE, against issue price of Rs 632 per share.

Glass Wall Systems shares gained 18.7% at Rs 216 after listing with a premium of around 7 percent at Rs 194 on the NSE, against IPO price of Rs 182 per share.

Prasol Chemicals shares ended lower at Rs 671 after listing at a discount of nearly 10 percent to the issue price at Rs 610 per share.