Sensex Today | Stock Market LIVE Updates: Nifty set for fifth straight weekly loss as oil surge continues

Sensex Today | Stock Market LIVE Updates: If Thursday's CAS session ignited any hope of a revival in the Nifty bulls, the overnight price action in crude and the US bond markets should put them to rest. Brent crude is now at $108 a barrel, while the US 10-year yield is nearing the mark of 5%.

The index needs a close above 23,897 to prevent a weekly loss and that is over 400 points away. The Nifty ended near the 23,500 mark but the question is will those CAS session gains reverse at market open today.

Thursday's intraday low of 23,380 will be important to watch, while 23,500 on the upside stays a key level. For the Nifty Bank, 56,500 on the upside is an important level, while Thursday's low of 56,231 will be key to prevent the index from tumbling towards the 56,000 mark.

Of course, there are certain pockets in the market that are still outperforming, including some of the newer listings, while the six IPOs that opened for subscription on Wednesday, close today. Keep an eye on Granules, Vodafone Idea, Godrej Properties and of course, the oil sensitives.

Watch this space for all the LIVE stock market updates.