Sensex Today | Stock Market LIVE Updates: Banking stocks continue to be the pain point, even as FMCG names continue to do the heavy lifting, with some support from IT. The Nifty Bank fell 500 points from the highs of the day.
Sensex Today | Stock Market LIVE Updates: The Nifty 50 index heads into the mid-week session after a trading day that left the bulls disappointed. The 200-point correction from the highs of the day showed that confidence at higher levels continues to remain absent for the bulls and that the 24,750 – 24,800 zone is a very strong barrier for the index.
Banking stocks continue to be the pain point, even as FMCG names continue to do the heavy lifting, with some support from IT. The Nifty Bank fell 500 points from the highs of the day.
For the Nifty, the two important levels are the 20 and 100-DMA, both of which are above the 24,700 mark, which were crossed intraday on Tuesday, but the bulls could not sustain those levels. The all-important two-day GST Council meet begins today and all eyes would be on what kind of rate rationalisation takes place.
The shareholder lock-in of three stocks, including NSDL ends today keeping those stocks on the radar. Also watch out for TBO Tek on its new acquisition, along with Indus Towers, Eternal and JSW Cement.
Watch this space for all the live updates.
