Indian markets took a hit last week,with Sensex dropping about 500 points and Nifty down 205, ending in the red. On Friday,August 14, Sensex slipped 71 points to 78,009. Nifty 50 lost 30, closing at 24,366. Broader indices like Nifty Smallcap 100 and Nifty Midcap 100 also fell around 0.7%.
Now,all eyes are on four factors likely to shape Dalal Street from August 17 to 21. Vinod Nair,Head of Research at Geojit Investments Limited,says markets are in holding pattern as investors seek clarity on energy prices and global bond yields. Yet there's been a bounce, driven by consumer durables and discretionary stocks,thanks to better demand.
Nair points to better-than-expected corporate earnings and supportive domestic factors as reasons for a potential boost in FY27 earnings estimates. He highlights a stable rupee,easing 10-year bond yields, and more foreign institutional investor activity as positives for India's macroeconomic scene and inflation trends.
In the U.S., Wall Street closed lower Friday. Tech stocks dipped on weak retail sales and ongoing Middle East tensions. Dow Jones fell 122 points, or 0.23%. S&P 500 and Nasdaq dropped 0.16% and 0.38%,respectively. Europe also saw declines, ending a four-week win streak. STOXX 600 lost 0.3% for the week but stayed within 1% of its record high.
Looking ahead,analysts at SBI Securities see Nifty resistance in the 24,500-24,550 range. Breaking this could push it to 24,700 or 24,850 short-term. Immediate support sits at 24,230-24,200,near the 100-day moving average.
Trading-wise,Bharti Airtel topped NSE turnover with ₹2,441 crore,followed by LG Electronics India at ₹1,665 crore and HDFC Bank at ₹1,480 crore. Also notable: Reliance Industries,Welspun India,Bharat Dynamics, and Zee Entertainment Enterprises.
Volume-wise, Vodafone Idea led with 77.89 crore shares traded,followed by Zee Entertainment Enterprises (11.12 crore) and Welspun India (7.35 crore). Other active stocks included LG Electronics India, Elgi Equipments, and Honasa Consumer.
Several stocks hit 52-week highs: Honasa Consumer, Welspun India,and Bosch. Meanwhile, NALCO, Ibull Housing Finance,and HPCL faced selling pressure. KEC International,UPL,and IRB Infra Dev reached 52-week lows.
Sentiment was bearish: 1,478 of 3,461 NSE stocks advanced,1,854 declined, and 129 unchanged . As markets prepare for next week, investors will watch these factors closely ...
