Sensex Today | Stock Market LIVE Updates: Nifty 50 faces a new week after 4 weeks of losses. New pre-open rules on NSE, BSE take effect. Bulls aim for 24,000. Crude oil elevated. Inflation data, central bank decisions, and 12 IPOs expected.
The first aim of the bulls will be to reclaim and sustain above the mark of 24,000, which can be seen as the first positive. The second aim will be to defend last week’s low of 23,786, in case any dip emerges during the intraday session. A dampener in sentiment is that crude oil prices continue to remain elevated, with Brent now heading back towards the $100 a barrel mark. For the Nifty Bank, it remains locked in the 57,000 – 58,000 range, although defending 57,000 will be key as it has not closed below that level since July 29.
The week will also see inflation data announcements both in India and the US, along with central bank decisions such as the ECB. The main domestic focus will be in the primary markets, as 12 mainboard IPOs worth over ₹7,000 crore will vie for investor attention, including 10 on the same day.
Also keep an eye on stocks like HEG, Tata Motors, Mazagon Dock, JSW Steel and other crude sensitives.
Watch this space for all the live stock market updates.