Sensex Today | Stock Market LIVE Updates: Nifty extends losses to 230 points; 47 out of 50 stocks in red
Sensex Today | Stock Market LIVE Updates: The floodgates have opened, and the markets are under immense pressure. The Nifty 50 index is down a mammoth 250 points, falling well below 24,000. The Nifty Bank has crashed another 400 points, slumping to 57,000. Eicher Motors, Infosys and Shriram Fin are the top laggards.
Sensex Today | Stock Market LIVE Updates: The Nifty 50 index heads into the mid-week trading session with things going against it. Brent crude is now past $95 a barrel, global bond markets are selling off and hostilities have resumed between the US and Iran in West Asia.Tuesday's CAS session saved the day for the bulls as the index managed a close above the 24,000 mark, while the 3:15 PM level was below that psychological support.The question is, for how long will the bulls be able to defend that level.
The Nifty Bank too, after that big spike on Monday, reversed all of those gains on Tuesday and is back at the lower end of the 57,000 - 58,000 range.A move below 24,000 will open the doors for further downside on the Nifty towards 23,800 levels, as per analysts. Despite the weak market sentiment, as many as 100 stocks hit 52-week highs on Tuesday.Therefore, activity remains stock specific and primary markets remain abuzz.
Keep an eye on oil sensitives, Reliance Industries, NMDC, Coal India and other stocks.Watch this space for all the LIVE stock market updates.