Sensex Today | Stock Market LIVE Updates: Nifty scales back after testing 24,900; FirstCry parent shares up 11%
Sensex Today | Stock Market LIVE Updates: The Indian indices opened in green with minor gains. Most of the Nifty 50 gains started the day in green at 24,691.20. The Sensex also opened in green at 81,196.08.
The GIFT Nifty is trading flat, indicating a muted start to the Indian markets.
The Nifty heads into its weekly expiry session on the back of mostly negative global updates with US President Donald Trump announcing on Truth Social that Russia will respond to Ukraine’s recent attacks. US macro data reported yesterday was also weak, reinforcing the case for a Fed rate cut, but that weighed on sentiments on Wall Street. The bulls though will take heart from the fact that unlike Tuesday, the Nifty closed near the highs of the day on Wednesday and above the mark of 24,600, although it traded in its narrowest range since May 16. However, analysts that CNBC-TV18 spoke to said that such formations generally result in a breakout on the upside, more so because the Nifty has been defending the 24,500 mark on the downside every instance for nearly a month. There will be expiry related volatility that will mark the session today, so the focus would predominantly be on that. In case the index moves higher, this week’ high of 24,845 will be an important level to watch on the upside. Watch out for railway stocks which were the outperformers in Wednesday’s session, along with the broader markets, which resumed their outperformance in comparison to the benchmark indices. Watch this space for all the live updates.
