Sensex Today | Stock Market LIVE Updates: Nifty opens near 25,450; Cohance Life shares down 6% post block deal

Sensex Today | Stock Market LIVE Updates:

Another important session beckons for the Nifty today as the bulls aim for further upside after crossing important levels in the last few sessions.

The index crossed the July congestion zone of 25,250 and moved further higher in mid-week trading, led again by the banking heavyweights. The index has risen 700 points in the month so far, while the Nifty Bank is up nearly 2,000 points.

Today is no different. After 11 straight days of gains, the Nifty Bank remains the index to watch out for. We mentioned to you on Wednesday that 55,300 is an important level for the Nifty Bank, which it managed to close above. The next level is the August 25 high around 55,700 and a move above that could set the index up for a dash towards 56,000.

For the Nifty too, it crossed an important level of 25,300 and has now set its sights on 25,500 on the upside. On expected lines, the Fed cut rates by 25 basis points overnight.

The reaction of that and Jerome Powell's commentary on the future of rate cuts will be seen on India's IT stocks, as tech heavyweights sold off on Wall Street overnight after the policy.

Today is also the weekly expiry of the BSE contracts. Continue to watch for defence names for any follow-up buying. The Nifty Defence Index is up 12% so far this month. Also watch for block deals in stocks like Cohance.

Watch this space for all the live updates.