Sensex Today | Stock Market LIVE Updates: Nifty may slip below 23,550 at start; Siemens in focus

Sensex Today | Stock Market LIVE Updates: The Nifty begins the month of June on the back of a sharp sell-off during the last 30 minutes of Friday’s trade on account of the MSCI adjustments. The index is now back down to the key support level of 23,500, which it has not closed below since May 13.

There is still no definitive outcome of the US-Iran negotiations and that remains a key talking point. Oil prices are rebounding this morning as well. A break below the 23,500 mark could open up further downside for the Nifty towards the May series low of 23,262.

On the upside, the bulls would look to reverse Friday’s damage and get back towards the 23,800 mark. For the Nifty Bank, daily moves of around 1,000 points either side have now become normal.

A key level now on the downside will be 54,000. Banks and rate sensitives like Autos, NBFCs, Real Estate will be in the spotlight through the week ahead of the RBI policy outcome on Friday. Keep an eye on Textile stocks, IndiGo, NMDC, IREDA, Glenmark and others, along with Auto sales figures.

Watch this space for all the LIVE stock market updates.