Image Source: Mint
Indian share markets declined this week, breaking their three-week winning streak as rising tensions between India and Pakistan contributed to volatility. Nifty 50 closed the week at 24,008.00, down 1.39%, and the BSE Sensex at 79,454.47, down 1.30%.
Market sentiment was impacted substantially by rising border tensions, with reports of drone and missile attacks sending investors into anxious mode. India VIX, an indicator of market uncertainty, rose sharply, reflecting heightened uncertainty.
Even as the larger market fell, Foreign Institutional Investors (FIIs) continued their spree of buying, injecting month-to-date inflows of ₹11,656 crore into the market, giving it some insulation.
Key Market Drivers Next Week:
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Geopolitical Events: India-Pakistan tensions will be at the center of attention, driving investor sentiment.
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Economic Data Releases: Market players will be watching Consumer Price Index (CPI), Wholesale Price Index (WPI), and export and import figures closely.
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Corporate Earnings: Major companies like Tata Steel, Bharti Airtel, Cipla, GAIL, Hero MotoCorp, Tata Motors, Lupin, Godrej Industries, and BHEL will release their quarterly reports.
Technical Outlook:
The Nifty 50 is stuck at crucial moving averages and that indicates possible downward risks. Support is immediate at 23,800 and if there is a strong break below that, it will take the fall further down to 23,200. On the upper side, there is resistance indicated at 24,400–24,600.
On the other hand, the Bank Nifty is showing relative weakness, with support at 53,000 immediately and further support at 52,400. A close above 55,000 on a sustained basis could pave the way to a further rally towards 56,000.
Investors are cautioned to maintain a watchful disposition, monitoring geopolitical trends and various economic indicators.
Source: MSN News
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