Sensex Today | Stock Market LIVE Updates: 22,500 holds the key for Nifty amid lack of positive triggers
Markets Wrap-up: Nifty 50 and Sensex End the Previous Trade Session in the Red
Sensex Today | Stock Market LIVE Updates: India’s benchmark indices Nifty 50 and Sensex ended the previous trade session in the red. Nifty 50 closed at 22,552.50, while Sensex ended at 74,454.41. The losses were largely attributed to the lack of positive triggers in the market. The traders are now eyeing the 22,500 mark as a crucial level for the Nifty to bounce back.
What’s Driving the Market?
- Tariffs and Trade Tensions: The situation is tense in the global markets, with the threat of tariffs and trade tensions between the US and other major economies. This uncertainty is making investors cautious and hesitant to make major bets in the market.
- Earnings Season: The earnings season is in full swing, with many companies reporting their quarterly results. While some have met expectations, others have disappointed. This lack of clear direction is making it difficult for traders to take a call on the market.
- Oil Prices: Crude oil prices are still above the $60/barrel mark, which is a concern for the oil-dependent economies. This could lead to higher inflation and interest rates, which would be negative for the equity markets.
- Monsoon Season: The monsoon season is approaching, and the hope is that it will bring some respite to the market from the current volatility.
Stocks to Watch
- NTPC Green Energy: The company’s focus on renewable energy is expected to be a growth driver for the company.
- Biocon: The company’s biopharma business is expected to drive growth in the coming quarters.
- PSU Banks: The public sector banks are expected to benefit from the government’s initiatives to boost infrastructure development.
- Texmaco Rail: The company’s rail business is expected to benefit from the Indian Railway’s focus on infrastructure development.
- ONGC: The company’s oil exploration and production business is expected to drive growth in the coming quarters.
- IREDA: The company’s focus on renewable energy and infrastructure development is expected to drive growth.
Market Outlook
- Sensex Today | Stock Market LIVE Updates: The 22,500 mark is a crucial level for the Nifty. If it breaks below this level, the bears may take control of the market. On the upside, the 24,000 mark is a strong resistance level for the Nifty.
- Expectations: We expect the market to remain volatile in the coming days due to the lack of positive triggers. A sustained move above the 22,500 mark could lead to a relief rally in the market.
- Recommendation: Investors are advised to remain cautious and look for stocks with a strong growth potential. A mix of large-cap and mid-cap stocks can be included in the portfolio to ensure a balanced exposure.
Conclusion
- Sensex Today | Stock Market LIVE Updates: The 22,500 mark is a crucial level for the Nifty amid lack of positive triggers. The market is expected to remain volatile in the coming days. Investors are advised to remain cautious and look for stocks with a strong growth potential.
