The stock market experienced a week of volatility, ending nearly unchanged after conflicting signals. Despite initial positive sentiment, global market fluctuations and declines in major stocks offset gains. The Nifty 50 reached a new record high before settling slightly lower. Financials, auto, and energy sectors saw gains, while broader indices closed with slight losses.
Key benchmark indices maintained a flat trajectory, marking the fourth consecutive week of little movement. The Sensex recorded a marginal uptick, while the Nifty 50 edged up slightly. The Nifty volatility index rose to a two-month high, with financials gaining more than two percent.
IT stocks dropped, led by a decline in HCL Technologies after missing revenue estimates. Expectations of higher US interest rates have been weighing on India’s IT sector. Despite a positive start to the week, mixed trends in global markets led to a correction in the domestic market.
Analysts expect volatility to continue over quarterly results, with resistance expected in the 22,750-22,900 zone for the Nifty 50. The upcoming week will see several IPOs and listings, along with a focus on Q4 earnings reports. Global cues, oil prices, and corporate actions will also impact market performance.
Overall, experts advise traders to consider hedged positions and await clearer signals before making significant moves in the market. The technical view suggests caution despite the ongoing uptrend, with key support and resistance levels to watch for potential shifts in market sentiment. Investors are advised to consult with certified experts before making investment decisions.
