Sensex Today | Stock Market Live Updates: GIFT Nifty trades flat; Goldman Sachs raises target for Zomato

Sensex Today | Stock Market Live Updates: The Nifty bulls are on the backfoot as the head into the monthly expiry of what has been an extremely forgettable September series. The index has declined nearly 6% so far this series, closing below the mark of 23,000 and dropping to a six-month low.

The last 30 minutes of today’s session will be crucial, as the NSE rebalancing will coincide with the Closing Auction Session (CAS). Analysts believe that a short-covering move will only happen once the Nifty closes above the 23,000 mark, else there is a fear that the index could drop further towards the 22,500 mark, where the highest Put Open Interest currently stands.

The Nifty Bank, which was looking to test 56,000 on the upside, is now fighting to defend 54,000 on the downside, while a close above 55,000 would bring some relief to the bulls. Barring the expiry and the rebalancing, primary market activity continues with more IPOs opening for subscriptions and more listings taking place.

The spate of block deals also continues with two more lined up for today. Keep an eye on BSE, Wipro, Vodafone Idea, NCC, IRFC and others.

Watch this space for all the LIVE stock market updates.