Sensex Today | Stock Market LIVE Updates: Nifty extends losses; Midcap, Banking indices hold gains

Sensex Today | Stock Market LIVE Updates:

The RBI has held the interest rates at 5.25%, in addition to holding the stance at Neutral. The market is under pressure and therefore, is trading cautiously. The Nifty is trading with gains of around 50 points, and 23,500 looks like the primary target. The Sensex is also on a similar footing, trading around 74,500 with gains of 150 points.

As policymakers considered growing global uncertainties and inflation risks, the Reserve Bank of India (RBI) increased its inflation projection for FY27 to 5.1% on Friday, June 5, while maintaining the benchmark repo rate at 5.25%.

The Nifty 50 needs a close above the 23,547 level to register a weekly gain. It is currently 140 points away from those levels. The index has traded in a range throughout the week, despite the extremely volatile periods seen across Tuesday and Wednesday.

The one positive that the bulls can take heart from is that the index managed to arrest a six-day streak of making lower lows on the daily charts and the bulls will now hope that the 23,151 level becomes a near-term base for the index.

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