Sensex Today | Stock Market LIVE Updates: GIFT Nifty hints at a negative start; Brent surges to $93

Sensex Today | Stock Market LIVE Updates: A combination of index heavyweights underperforming is keeping the Nifty 50 gains in check despite the outperformance of the banking stocks. While the Nifty remains confined in a range, the Nifty Bank has become the index to watch after Tuesday’s breakout from a 1,500-point range.

Analysts there expect further upside towards 56,200 levels in case the index manages to cross the near-term hurdle of 55,700 – 55,800.

The Nifty though, dragged by HDFC Bank and IT on Tuesday, would be hopeful that both put their hand up and enable a breakout for the index as well. A factor that bulls will take heart from is that Reliance Industries snapped a nine-day losing streak on Tuesday and if that rebounds from lower levels, it will be a big boost to the index.

For today, the 23,070 low continues to remain the line in sand for the bulls, while the 23,300 – 23,500 zone will continue to act as a barrier. Oil prices have not surged much either despite the recent escalations. Watch out for names like NLC India, Dixon Tech, IndiGo, and other oil sensitives.

Watch this space for all the LIVE stock market updates.