Market Wrap

Indian markets ended last week on a choppy note as Nifty slipped sharply on Friday amid broad global weakness, yet still managed to finish with weekly gains of 0.61%, closing just above 26,050. The standout sector was Nifty IT, which gained over 1.5%, supported by a stable price structure and firming sentiment in global tech. However, the broader backdrop remained fragile, with Asian and European indices correcting sharply due to renewed concerns around stretched U.S. AI stock valuations and fading hopes of a December Fed rate cut. Japan’s announcement of a $135 billion stimulus package added liquidity optimism but failed to meaningfully lift sentiment as traders preferred caution. Crypto markets also reflected risk aversion, with Bitcoin sliding to $80,537. On the political front, PM Modi’s G20 Summit visit to Johannesburg and shifting signals from Donald Trump’s policy stance kept geopolitical attention elevated. Domestically, traders closely monitored Nifty’s technical levels as foreign fund flows turned sensitive to incoming US and Eurozone macro data.

What's Ahead

Market direction in the near term will hinge largely on global risk appetite, which remains fragile amid overvaluation concerns in U.S. tech, weakness in crypto markets, and diminishing expectations of imminent Fed easing. If global markets stabilize, Nifty may attempt a pullback from its support zone of 25,950–25,990, but persistent weakness abroad could cap any meaningful upside. Key triggers this week include developments from the G20 Summit, U.S. macro numbers, and market reaction to Japan’s stimulus package. Overall, a cautious, range-bound trade is expected unless strong global cues emerge to revive risk sentiment.

Market Snapshots

Institiutional Activity

Sectoral Performance