Sensex Today | Stock Market LIVE Updates: Nifty rises above 24,950; Poonwalla Fincorp up 6%

Sensex Today | Stock Market LIVE Updates:

The Nifty is on a two-day upmove, and the recovery has mainly been due to the banking stocks, and a last-hour recovery seen on IT names on Friday, ahead of the earnings season, which begins this Thursday for the Nifty 50 companies.

The next important level to watch on the upside for the Nifty is 25,017, which is the 50% retracement of the fall seen from the September 18 high of 25,448 to the September 30 low of 24,587. While the Nifty Bank has retraced most of its recent fall, the next important level for the banking index is the September 18 swing high of 55,835.

In fact, the Nifty Bank will be in focus today as well, as nearly every financial institution reported its Q2 business update either on Friday after market closing or over the weekend. Stocks like HDFC Bank, Bank of Baroda, Kotak Bank, IndusInd Bank, all may react to those updates. Also reacting to updates will be stocks like Marico. Today is also the day when India's biggest IPO of the year, Tata Capital, opens for subscription.

Most analysts have given a "subscribe for long-term" rating on the issue. Today is also the Supreme Court hearing for Vodafone Idea, while WeWork's IPO enters Day 2.

Watch this space for all the live updates.