Sensex Today | Stock Market Live Updates: Nifty aims to sustain recovery amidst earnings deluge; Oil remains elevated

Sensex Today | Stock Market Live Updates: The Nifty bulls could take heart from the fact that every dip towards lower levels is leading to an equally swift recovery. The banks put their hand up this time around on Wednesday as IT underperformed. It will be interesting to see how IT reacts today after Alphabet’s earnings miss overnight and results from Samsung Electronics. Today is also the monthly expiry of the Sensex contracts.

The other major point of concern for the markets, crude, continues to remain at elevated levels with Brent at $115 a barrel. For the Nifty, the 22,500 zone is turning out to be an important support on the downside, but any move towards 22,800 continues to see supply pressure as well as the index failed to cross Tuesday’s high on Wednesday.

For the last five sessions, the Nifty has been attempting to cross and sustain above 22,800, but has failed to do so. The Nifty Bank, after slipping below 54,000, managed to stage a recovery and close above that mark. 54,500 on the upside remains the key level to cross, while Wednesday’s low of 53,626 is something bulls would not want to re-test.

Another earnings heavy day beckons. Trent, Asian Paints, Coal India, IndiGo among the Nifty names report, while names like Bandhan Bank, Hero among others will react to their numbers. Also keep an eye on GE Vernova T&D.

Watch this space for all the LIVE stock market updates.