Stock Market Live Updates: The Nifty has been grinding lower even as it consolidates in a narrow range. The index has lost 300 points in the last six sessions, despite a better-than-expected earnings season. Oil prices remain near $90 a barrel. Watch for movements on the USD-INR and further block deal announcements. Watch this space for all the LIVE stock market updates, management commentary and stocks in news.
Stock Market Live Updates: The Nifty 50 index returns to trade today after the culmination of the June quarter results season, which, contrary to expectations, turned out to be better than expectations. However, the index has been on a slow grind down, having declined in five out of the last six sessions and lost nearly 300 points in the process.
The Nifty has also been making “lower highs” now for all of these last six sessions. 24,250 – 24,300 zone continues to remain a support as has been the case all of last week, while supply has been emerging between the 24,400 – 24,500 zone. The Nifty Bank, barring last Wednesday, has also been in a downtrend, having lost nearly 600 points during this period, but still remains locked in the 57,000 – 58,000 range.
The market will also monitor announcements for further block deals, or any further OFS’ from the government. Keep an eye on names like Reliance Industries, Voltas, Cochin Shipyard, NMDC, among others.
Watch this space for all the LIVE stock market updates.