Sensex Today | Stock Market LIVE Updates: Nifty enters final session of the week amidst IT weakness, rising crude

Sensex Today | Stock Market LIVE Updates: The Nifty looks most certain to end the week on a negative note. It needs a close above 24,353, 180 points from Thursday’s close, to register gains for the week. Not that it has not happened before, but there are multiple headwinds that the bulls have to counter for that to happen.

First, crude continues to rise. Brent is above $106 a barrel. Second, the weakness in IT. Software stocks on Wall Street were smashed overnight. Infosys reported subdued guidance for the new year. Its ADR fell nearly 5% overnight.

The bulls would hope that this is already priced in, considering the stock in India is down 5.5% over the last two sessions. The big earnings for the day is Reliance Industries, which reports after market close today. 24,000 will be key on the downside for the Nifty, while 24,350 – 24,400 will be the first barrier to cross.

The Nifty Bank was a big underperformer as profit booking continued after a strong recovery rally. Apart from Infosys, keep an eye on LTM, Cyient, Tata Capital, IndusInd Bank, DCB Bank, Waaree Energies and others.

Watch this space for all the LIVE stock market updates.