2 weeks ago

Nifty heads into Sensex weekly expiry hoping to conquer 24,500

Nifty heads into Sensex weekly expiry hoping to conquer 24,500
Sensex Today | Stock Market LIVE Updates: Nifty heads into Sensex weekly expiry hoping to conquer 24,500 · CNBC TV 18

The stock market in India is like a big game where people buy and sell pieces of companies.

One important scoreboard is called the Nifty, and it watches 50 big companies.

Right now, the Nifty is trying hard to get past a number called 24,500, like a climber trying to reach a mountain top.

On Wednesday, it climbed above 24,400 but still could not pass 24,500.

Another scoreboard, the Nifty Bank, which follows banks, jumped up late in the day and closed near 58,000.

If banks can stay above that number, people who buy bank stocks will feel happy.

Today is a special day called the weekly expiry, when certain market bets finish and new ones begin.

It is also one of the last days when companies tell everyone how much money they made during the quarter.

Companies like Ashok Leyland, which makes trucks, and LG Electronics India will share their results.

People are also watching some stocks because a big index company called MSCI changed which companies are in its lists.

Key facts

Event
Sensex weekly options expiry session
Nifty resistance level
24,500
Nifty support level
24,265 (Wednesday's low)
Nifty Bank level
Closed near 58,000
Companies reporting results
Ashok Leyland, LG Electronics India and others
Stocks to watch
Tata Group stocks, Godrej Consumer Products
Index changes
MSCI reshuffle announced

Sources

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