What is the story about?
Stock Market Live Updates:
The Nifty heads into today's weekly options expiry session on an optimistic note. Bulls would be happy as the index decisively closed above the 20-Day Moving Average, and also at the highest point of the day. Broader market breadth would also please them. 26,200 now becomes an important level for the index, as it has not managed to close above that since December 5. The one concern, if any, would be the lack of participation from large private banks, which has kept a lid on the Nifty Bank's momentum. Although the banking index closed higher on Monday, it still remains below the 59,500 mark. The focus today will be on the Adani Group cement companies, ACC and Ambuja, after the merger announcement, and also on Orient Cement, which will merge into Ambuja going forward. Also keep an eye on stocks like Infosys, whose US-listed shares ended 5% lower overnight, along with KSH Ltd., that lists on the bourses today after an undersubscribed IPO. Watch this space for all the Live updates.
