Sensex Today | Stock Market LIVE Updates: Nifty looks for support at lower levels as higher oil prices may play spoilsport again

Sensex Today | Stock Market LIVE Updates: Mid-week is here, but the situation across the globe has not changed much from what it was last week. It has only deteriorated, if not more. After a strong start to the week on Monday, the Nifty gave up some of those gains on Tuesday but managed to protect important levels on the downside.

The question is, for how long can it do that? Oil prices are back towards $78 per barrel this morning after reports of US President Donald Trump weighing an attack on Iran surfaced last evening. That also dampened sentiments on Wall Street, where indices were attempting a recovery from lower levels despite poor macro data.

All eyes tonight will be on Fed Chair Jerome Powell as the FOMC announces its policy decision. Powell’s commentary on potential rate cuts in the future and the threat from oil prices to the US economy will be keenly watched.

Back home, block deals are back, with Vedanta planning to offload some stake in its subsidiary Hindustan Zinc. Incidentally, Vedanta’s board also meets today to consider a dividend for its shareholders. Also, keep an eye on BSE after SEBI approved Tuesday as the weekly expiry day for NSE, giving the former Thursday as its expiry day.

Watch this space for all the live updates.