Sensex Today | Stock Market LIVE Updates: The Nifty not only gave up its 20-Day Moving Average last week, but also closed below the crucial 24,500 mark, to end the week with losses, after two weeks of gains. The Nifty Bank has been a key culprit of the Nifty underperformance, having corrected by over 2,000 points in the last five trading sessions.
Sensex Today | Stock Market LIVE Updates: The Nifty index is trading with gains of over 100 points, with the 50-stock index rising towards the 24,550 mark. The Sensex index is also surging with gains of close to 400 points, allowing it to regain the 80,000 mark. This surge and renewed optimism comes after India’s strong GDP numbers
The Nifty bank index is rising towards the 54,000 mark.
The Nifty Bank has been a key culprit of the Nifty underperformance, having corrected by over 2,000 points in the last five trading sessions. Part of the Nifty underperformance on Friday was also led by Reliance Industries, as the stock fell over 2% despite CMD Mukesh Ambani announcing the IPO timeline for Jio. Brokerages though, continue to maintain a positive stance on the stock.
In addition, watch out for four stocks, including Premier Energies, as their shareholder lock-in ends today, along with IndusInd Bank, after shareholders rejected a key proposal during its AGM.
Watch this space for all the live updates.