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Sensex Today | Stock Market LIVE Updates: The euphoria seems to have been short-lived, at least for now. The Nifty is down over 150 points, falling to the 22,600 mark. The Nifty Bank crashes 300 points, falling below the 55,000 mark. Titan, Asian Paints and SBI Life are the top laggards.
Sensex Today | Stock Market LIVE Updates: It seems like back to square one, as the markets are once again under pressure yet again. The Nifty, after two straight days of healthy gains, is now down over 150 points, slumping to 22,600. The Sensex index is down close to 500 points, falling to 72,600.
The relief rally on the Nifty has extended for the second day running and the bulls will hope that even if there is a rate hike, its a dovish one and a shallower rate hike cycle.
The mid-week session today could prove to be the most consequential one this week for the Nifty bulls as the Reserve Bank of India will be announcing its monetary policy decision in a few hours from now. While the consensus is for a 25 basis points rate hike by the central bank, their stance, growth and inflation forecasts along with the governor's commentary on the road ahead will be keenly watched by the street.
After Tuesday's CAS the Nifty is near 22,800 and with oil prices stable, the bulls would want to move and sustain above that level to open the path for reclaiming the 23,000 mark.
Rate sensitives such as banks, NBFCs and Real Estate will remain in focus today. Business updates also continue with stocks like Titan, Utkarsh SFB and others reacting to it. Watch for 55,500 levels on the upside for the Nifty Bank, while 54,750 zone could be a support. The Nifty could find support at 22,500.
Watch this space for all the LIVE stock market updates.
HomeMarket NewsSensex Today | Stock Market LIVE Updates: Nifty Bank recovers 600 points from lows after RBI MPC
