Sensex Today | Stock Market LIVE Updates: Indian stock markets look to Nifty weekly expiry with crude prices down over eight percent and Finance Minister Nirmala Sitharaman eyeing equity taxation views.
Adding to that are remarks by Finance Minister Nirmala Sitharaman who reiterated that she will consider all views put forth with regards to equity taxation in the upcoming budget. It also remains to be seen whether the market gives up the 100-odd points it surged during Monday’s Closing Auction Session (CAS), adjusts, and then attempts to move higher again.
For the Nifty, 23,500 now becomes the most important level on the upside, while supports at the lower end could now be seen between 23,250 – 23,200 levels. A major part of Monday’s move came from Reliance Industries and the bulls will hope that the trend continues after the recent underperformance.
The Nifty Bank also reclaimed the 55,000 mark on Monday after underperforming the Nifty for most of Monday’s session. 55,500 will be the next upside level to watch, while supports have likely moved higher to 54,500.
ITC could be the result reaction of the day, while State Bank of India, the country’s largest lender also reports numbers today.
Watch this space for all the Live stock market updates