Sensex Today | Stock Market View: Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd 

 

Weak sentiment is likely to prevail in early trades owing to correction in overnight US markets and its negative impact on most of the Asian indices. There could be sideways movement ahead of the RBI announcement on monetary policy and banking stocks are likely to be in the spotlight. While interest rates are likely to remain unchanged in view of stubborn inflation, the street will be eyeing RBI Governor Shaktikanta Das commentary. Commanding attention will also be the US nonfarm payrolls report to be released in the overnight trades today, the Federal Reserve’s rate cut hopes primarily rest on this jobs report. Technically, Nifty’s immediate hurdles is at its all-high at 22619 mark and then all eyes will be on the 23000 mark, while the index has intraday support at 22339 mark.