Sensex Today | Stock Market LIVE Updates: Nifty extends gains towards 25,350; Urban Company up 56% in pre-open

Sensex Today | Stock Market LIVE Updates:

The Nifty bulls head into mid-week trading high on confidence, not just for the fact that the index crossed the August 21 swing high of 21,154, but also closed at the day's high.

We mentioned to you on Tuesday that the Nifty Bank would be the index to watch, and that it surged past its key psychological barrier of 55,000 and took the Nifty higher. Index heavyweights from private financials to Reliance to TCS all contributed to the gains on Tuesday, and foreign institutions turning out to be net buyers will add to the positive sentiment.

For today, 25,250 is an important level to watch as this was the band where the index faced resistance in July before declining. The Nifty Bank continues to remain the index to watch as it has gained every single day in September, barring one. For the banking index, the August 22 and 25 highs of 55,300 and 55,700 remain key on the upside. Keep an eye out for the small-sized PSU banks with little free float.

All eyes will, of course, be on the US Fed decision later tonight, and whether that FII buy figure turns out to be a sustained one and not just a flash in the pan. After a healthy subscription, Urban Company lists today.

Watch this space for all the live updates.