Sensex Today | Stock Market LIVE Updates: Nifty may open near 22,550; Brent hovers around $103
Sensex Today | Stock Market LIVE Updates: The Nifty enters a key week with cautious optimism after ending eight weeks of losses, while banks and IT stocks remain in focus amid rising crude prices.
While bond yields remain where they were last week, crude oil prices have surged once again with Brent crude trading above the mark of $105 a barrel.
Banks will be the segment to watch today after the decisions taken by the RBI with regards to their CRR management as well as to safeguard the currency from further depreciation. The direction taken by the Nifty Bank could be key in determining the Nifty trajectory.
IT will also be in the spotlight after Friday’s buying, with HCLTech, Wipro, Tech Mahindra, all reporting results this week. For the Nifty, 22,400 is an important support and a break below that could result in a re-test of the recent lows, as per analysts.
On the upside, the 22,600 – 22,700 zone will be important for further supply. The Nifty Bank would look for support at the 54,500 mark in case of a fall.
Avenue Supermarts, Poonawalla Fincorp, RBL Bank, Lenskart are some of the other stocks to watch.
Watch this space for all the LIVE stock market updates.