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Nifty 50 seen range-bound between 23,000 and 24,000 this expiry week
The outlook comes as Nifty 50 fell 0.9% to close at 23,140, with Bank Nifty down 1.4% to 55,580 over the week.
Ganesh Dongre of Anand Rathi expects India’s Nifty 50 index to stay broadly range-bound between 23,000 and 24,000 during the upcoming monthly expiry week, with the market potentially moving sideways rather than trending, according to LiveMint Markets.
LiveMint Markets also notes that the key benchmark indices ended the week lower, with the Nifty 50 declining nearly 0.9% to 23,140 and the Bank Nifty dropping 1.4% to 55,580.
Sector performance was mixed, with Realty, Metals, and Chemicals among the outperformers, each gaining around 1% to 2% during the week, while geopolitical uncertainty remained elevated, especially around US-Iran tensions.
The outlook cites ongoing pressure from crude oil, with Brent still above $100 per barrel, and highlights that global market cues and crude moves are likely to remain important for the domestic market in the coming week, according to LiveMint Markets.
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