Sensex Today | Stock Market Live Updates: Nifty falls over 200 points as minor recovery gets sold into
Sensex Today | Stock Market Live Updates: The markets are in a pool of red, as the indices slump even further. The Nifty is down over 200 points, falling below the 22,600 mark. The Nifty Bank is also under immense pressure, falling 650 points, stumbling 54,000. Tata Motors PV, HDFC Life and Bajaj Fin are the biggest laggards.
The Nifty bulls are on the back foot in 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 Nifty Bank is down, falling close to 600 points, and below the critical mark of 54,000.
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.
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.
Watch this space for all the LIVE stock market updates.
