Sensex Today | Stock Market LIVE Updates: With the Nifty on a six-day losing streak, it now looks for support at lower levels. 24,650, where it closed on Friday, will be the first line of defence, but a move below that can bring in the September 5 low of 24,621.
Sensex Today | Stock Market LIVE Updates: The Nifty enters a make-or-break week. Though truncated, it is not devoid of action. From Auto sales to the RBI policy and business updates for the Second quarter, there is a lot at stake for the market, which has just given up 80% of the 1,000-point rally that the benchmark Nifty 50 witnessed over a two-week period.
From the September 18 high of 25,448, the index has given up 800 points as of Friday’s closing. With the Nifty on a six-day losing streak, it now looks for support at lower levels. 24,650, where it closed on Friday, will be the first line of defence, but a move below that can bring in the September 5 low of 24,621, followed by the September 3 low of 24,533 and then bring in the lows of the current rally, the August 29 low of 24,404.
The Nifty Bank is back to square one, not only closing below the 55,000 mark, but also below key support levels of 54,500.
IT continues to remain the sector to watch, as does Tata Motors. FMCG will possibly be the sector of the day after Hindustan Unilever (HUL)’s business update on Friday.
Watch this space for all the live updates.