Sensex and Nifty Weekly Update: Will the Market Continue Its Uptrend?

Sensex and Nifty Weekly Update:
Indian stock market benchmarks Sensex and Nifty 50 ended lower at the close of the previous week after six days of gains. Traders booked profits mainly in banking and FMCG stocks, which caused a small correction. Even with the slight fall, both indices recorded weekly growth because of strong festive demand and foreign investment support.

Sensex and Nifty Weekly Update:

On Friday, Sensex declined by more than 300 points and closed near 84,200. Nifty 50 also slipped below the 25,800 mark and settled at 25,795. Market experts believe this fall is mainly temporary profit-taking. Over the past week, both indices touched fresh 52-week highs.

Expectations for Upcoming Sessions

According to market analysts, the next one or two sessions may show some volatility. Nifty 50 has a support zone near 25,700 and a resistance level around 25,850. If Nifty moves above that resistance, it could move toward 26,000. Investors are advised to stay cautious, as fluctuations can continue in the short term.

Global and Domestic Drivers

The Indian market recently benefited from festive shopping, higher consumer demand, and positive sentiment at the beginning of the new Samvat year. However, global tensions and foreign fund withdrawals are creating uncertainty.

Gold prices have seen sharp movements because of investors booking profits and a stronger US dollar. At the same time, crude oil prices moved higher due to concerns over supply disruptions. Rising oil prices can be challenging for India because they may increase the import bill.

Investors are also watching the India-US trade talks, expecting progress soon. In addition, interest rate decisions from the US Federal Reserve and the European Central Bank this week may influence global markets.