The week saw mixed movements in the broader market, but the benchmark indices were beaten. The BSE Sensex dropped 489.92 points, or 0.62%, to 78,009.25, and the Nifty 50 fell 204.65 points, or 0.83%, to 24,366.
The Nifty Midcap 100, however, extended its winning streak for the third week in a row, climbing 0.5% and reaching a fresh all‑time high. Gains were led by One 97 Communications, Vodafone Idea, MCX, Info Edge India, Hitachi Energy India and LG Electronics India. PI Industries, Bharat Forge, Page Industries, Godfrey Phillips India, HUDCO, Lupin and GMR Airports were among the biggest losers.
In contrast, the Nifty Smallcap 100 ended its two‑week gain streak, falling 0.65%. PhysicsWallah, KEC International, Aegis Logistics, Triveni Turbine, HBL Engineering and NBCC (India) dragged the index lower. Gland Pharma, BLS International Services, Pine Labs, Sarda Energy & Minerals, Devyani International, Aarti Industries and Sai Life Sciences were the top gainers.
Sector‑wise, Nifty Media led with a 2.2% rise, followed by Capital Markets (1.6%), Consumer Durables (1.3%), Realty (1.0%) and Defence (0.8%). On the downside, Nifty Metal fell 1.9%, FMCG 1.6%, Auto 1.5%, Healthcare 1.2% and Oil & Gas 1.0%.
Vinod Nair, Head of Research at Geojit Investments, said the markets stayed range‑bound amid higher crude and global uncertainty. He noted that softer U.S. labour data initially eased Fed expectations, but a rebound in crude brought inflation concerns back to the fore.
He added that better‑than‑expected corporate earnings, a stable rupee, lower 10‑year bond yields and improving FII participation supported the domestic macro backdrop. The Nifty 50’s Q1FY27 earnings beat expectations, with 33 constituents outperforming estimates.
Looking ahead, investors will monitor crude prices, Middle East tensions, U.S. retail sales, FOMC minutes and Chinese data for clues on global growth and Fed policy.
Foreign institutional investors bought equities worth ₹1,228.24 crore in the week, marking the third consecutive buying week. Domestic institutional investors added ₹9,285.63 crore to their portfolios.
BSE‑listed companies’ total market capitalisation grew by more than ₹1 lakh crore.
Sudeep Shah of SBI Securities highlighted that the last three pullbacks align with the 38.2% Fibonacci retracement zone of 24,320–24,300. He pointed out that immediate resistance for Nifty lies at 24,500‑24,550, while support is at 24,230‑24,200.
Rupak De of LKP Securities noted that Nifty’s lacklustre trading keeps it just above the 20‑EMA, and that a further decline could push it toward 24,180. He identified 24,400 as a key resistance level.
Nagaraj Shetti of HDFC Securities said the weekly chart shows a negative candle after a doji pattern, indicating a false breakout near 24,500‑24,600. He expects more consolidation and possible movement to the next support around 24,200‑24,000.
Overall, the week ended with mixed sentiment, a strong midcap rally, and cautious outlooks as traders await clearer signals from global markets.