Sensex Today | Stock Market LIVE Updates: GIFT Nifty indicates positive start as bulls look for decisive upside trigger

HomeMarket NewsSensex Today | Stock Market LIVE Updates: GIFT Nifty indicates positive start as bulls look for decisive upside trigger

Sensex Today | Stock Market LIVE Updates: The Nifty 50 is not declining but is not managing a decisive move higher either. Every attempt to reclaim the resistance band between 24,850 and 25,000 is getting sold into. Monday was a similar story.

The only positive is that the index managed a higher high and a higher low on the charts, which generally is a positive sign. Today is also the weekly expiry of the NSE contracts, the second after the new rules took effect. Auto stocks continue to do the heavy lifting, with names like Ashok Leyland, M&M, Eicher Motors, TVS Motor and Maruti Suzuki all hitting record high levels on Monday.

However, the lack of significant weightage on the indices mean that the benchmark continues to remain rangebound, even as these stocks take top gear. The two heavyweights, banks and IT, continue to remain a pain point, keeping any potential Nifty gains in check. The Nifty Bank fell over 300 points from the highs in the final few minutes of trade, while IT continued to grind lower.

IT will also be in focus today after Infosys announced that it will consider a buyback of shares along with its results next month. For the Nifty, Monday's high of 24,885 holds the key, while the low of 24,750 could cushion any potential downside.

Watch this space for all the live updates.