Fed rate cut decision, India-Pakistan tensions among 8 factors that'll steer D-Street this week
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Indian equity benchmarks continued their upward trajectory this week, with the Nifty50 rising 1.3% and the Sensex gaining 1.6%. In contrast, broader markets lost momentum after outperforming in the previous week. The BSE Midcap index edged up 0.4% week-on-week, while the Smallcap index slipped 1.3%. On Friday, the benchmark BSE Sensex added 259.75 points or 0.32% to close at 80,502, while the broader Nifty50 ended at 24,346.70, up 12.50 points or 0.05%. “A small bullish candle was formed on the daily chart with a long upper shadow. Technically, this market action could indicate an upside breakout attempt at the 24,500–24,600 hurdle. The presence of resistance at higher levels could suggest increased volatility with a weak bias,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. A decisive move above the 24,500–24,600 range could open the door to further gains toward 24,800–25,000 levels, while any weakness from cu...