Sensex Today | Stock Market LIVE Updates: The Nifty will react to Friday’s sell-off on Wall Street, futures declining this morning, higher oil prices, and the US Dollar index back at 100. The most important reaction today though, will be on the rupee, after the RBI capped total positions that banks can take in the onshore currency market to $100 million.
The Nifty will react to Friday’s sell-off on Wall Street, futures declining this morning, higher oil prices, and the US Dollar index back at 100. The most important reaction today though, will be on the rupee, after the RBI capped total positions that banks can take in the onshore currency market to $100 million.
The move will also have a reaction on banking names, keeping the Nifty Bank in focus too. For the Nifty, March 23 lows of 22,471 are well within sight, although analysts see some supports at lower levels before that gets re-tested.
The Nifty Bank is now down 15% from its peak, and is struggling to hold 52,000. Apart from banks, keep an eye on defence stocks, eight stocks where lock-ins end, Bank of Baroda, ONGC, and more.
Watch this space for all the LIVE stock market updates.