16.09.202604:45:49UTC+00Sensex Starts Session Higher

India’s BSE Sensex advanced about 0.5% to 74,348 on Wednesday, rebounding from the previous session’s selloff as domestic equities found some support. However, gains were capped by elevated crude prices, a weaker rupee, and caution ahead of the US Federal Reserve’s policy decision. Brent crude hovered around $108 a barrel following supply disruptions in Saudi Arabia that have kept prices high.

Investors are awaiting the Fed’s verdict, with any indication of higher interest rates expected to support the US dollar and bond yields, while potentially pressuring Indian equities. In sector news, Paytm and Pine Labs may see buying interest after the National Payments Corporation of India announced a 0.4% merchant discount rate on select person-to-merchant transactions above 2,000 rupees, effective October 15.

Primary market activity also picked up, with three initial public offerings—Hero Motors, SS Retail, and Jindal Supreme India—opening for subscription on Wednesday, adding to the fresh supply of equity. Among notable movers, Paytm gained 1.5%, eMudhra surged 11.4%, and Reliance rose 1.3%.