Share Market Live: Sensex, Nifty likely to open lower today

The Indian market is likely to open lower today as SGX Nifty fell 41 points to 17,469. Benchmark indices staged a stellar recovery rally in the previous session a day after the market came under strong selling pressure due to ultra-hawkish stance of the US Federal Reserve. Sensex closed 1,564 points or 2.70 per cent higher at 59,537 and Nifty surged 446 points or 2.58 per cent to close at 17,759.

On the sectoral front, banking shares were the top gainers with the BSE bankex rising 1,458 points to 45,295. Consumer durables and auto shares also gained, with their BSE indices rising 1,016 points and 762 points, respectively. All 19 BSE sectoral indices ended in the green.

The market breadth was positive with 2,403 shares ending higher against 1,022 stocks in the red. 127 shares were unchanged. Market cap of BSE-listed firms rose to Rs 280.21 lakh crore.

Here's a look at live market updates today.

8:29: Expert take

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

"Due to temporarily overbought conditions, we may see range-bound activity in the near future. For traders 17,550 or the 20-day SMA could be an important level to notice. Above the same, the index could accelerate to the level of 17,800-17,850. On the other hand, an uptrend below 17,500 would be weak. If the Nifty crosses the 18,000 level then, the index could surge to 18,300-18,350."

8:25 am: SGX Nifty

The Indian market is likely to open lower today as SGX Nifty fell 41 points to 17,469. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:10 am: Market on Tuesday

Benchmark indices staged a stellar recovery rally in the previous session a day after the market came under strong selling pressure due to the ultra-hawkish stance of the US Federal Reserve. Sensex closed 1,564 points or 2.70 per cent higher at 59,537 and Nifty surged 446 points or 2.58 per cent to close at 17,759.