Stock Market LIVE Updates: The markets, contrary to opening, has surged back, with the Nifty chasing the 24,000 mark, with gains of over 120 points. The Nifty Bank is also rising, jumping over 300 points. ITC, Max Health and Bharat Electronics are the biggest gainers.
The four-day rally on the Nifty 50 has seen the index gain over 1300 points from the lows it made on October 29. From sub-22,500 levels, the index is now one good session away from reclaiming the 24,000 mark
Crude oil prices remain below the $105 a barrel mark as well. For the Nifty, 24,000 on the upside remains the most important level to watch, and as the index continues to move higher, so does its base.
Reliance Industries will remain in focus as the stock has been the most traded stock over both Monday and Tuesday, and from October 30, its MTF positions have increased 60%. For the Nifty Bank, a close above 55,500 is a positive and that is a level the bulls would want to defend. 55,700 – 55,800 levels on the upside will be key to watch.
Watch this space for all the Live stock market updates during the day.