Markets eye higher levels despite global headwinds

Mumbai: Indian equity markets are expected to remain focused on key technical levels in the coming week, with analysts indicating that the Sensex could face immediate resistance in the 78,400–78,600 range, while the Nifty will need to decisively breach the 24,400–24,500 zone to extend its recent recovery. In the previous week, the Indian equity markets closed on a strong note, extending their recovery despite persistent geopolitical tensions, elevated crude oil prices and continued uncertainty surrounding the global interest-rate outlook.

The benchmark indices posted healthy weekly gains, with the Nifty advancing around 0.53 per cent to close at 24,334.30, while the Sensex rose nearly 0.75 per cent to settle at 78,151.45. However, the broader market witnessed some profit booking after its recent rally, with both the Midcap and Smallcap indices ending the week marginally lower.

According to analysts, the Sensex has shown resilience after reclaiming key short-term levels and attracted steady buying interest through the final trading session of the week. They said the 78,400–78,600 zone is likely to act as the immediate resistance area. “A sustained move above this range could strengthen bullish momentum and open the door for a rally towards the 79,000–79,200 levels,” as per the analyst.