Sensex Today | Stock Market LIVE Updates: The relief rally on the Nifty has extended for the second day running and the bulls will hope that even if there is a rate hike, its a dovish one and a shallower rate hike cycle. After Tuesday’s CAS the Nifty is near 22,800 and with oil prices stable, the bulls would want to move and sustain above that level to open the path for reclaiming the 23,000 mark.
Sensex Today | Stock Market LIVE Updates: The mid-week session today could prove to be the most consequential one this week for the Nifty bulls as the Reserve Bank of India will be announcing its monetary policy decision in a few hours from now. While the consensus is for a 25 basis points rate hike by the central bank, their stance, growth and inflation forecasts along with the governor’s commentary on the road ahead will be keenly watched by the street.
The relief rally on the Nifty has extended for the second day running and the bulls will hope that even if there is a rate hike, its a dovish one and a shallower rate hike cycle. After Tuesday’s CAS the Nifty is near 22,800 and with oil prices stable, the bulls would want to move and sustain above that level to open the path for reclaiming the 23,000 mark.
Rate sensitives such as banks, NBFCs and Real Estate will remain in focus today. Business updates also continue with stocks like Titan, Utkarsh SFB and others reacting to it. Watch for 55,500 levels on the upside for the Nifty Bank, while 54,750 zone could be a support. The Nifty could find support at 22,500.
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