Sensex Today | Stock Market LIVE Updates: The markets are under pressure yet. The Nifty on expected lines has fallen over 120 points, slumping below the 23,500. The Nifty Bank has fallen over 300 points. Infosys, Tech Mahindra and HCL Tech are the top losers.
Brent crude prices are now nearing $100 a barrel due to escalations in West Asia yet again and that will have a bearing on the markets, including the currency and the bond yields. The index is now near the July series low of 23,606 and a break below that opens the door to the June lows of 23,313.
The Nifty RSI has now reached 30, which is borderline “oversold”, while the Nifty Put-Call Ratio is at 0.83 from 0.69 earlier. The only other solace is the fact that broader markets are doing fine, with the Midcaps and Smallcaps not falling as much as the Nifty with stock specific reactions taking precedence.
The Nifty Bank has broken below the 57,000 mark and the next important level is the July 30 low of 56,768, which it finds itself close to currently. Six IPOs open for subscription today, keeping primary market activity abuzz. Watch for stocks like Biocon, Graphite India, Bank of Baroda and others.
Watch this space for all the LIVE stock market updates.
