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Indian stock market: On Friday, the domestic benchmark equity indices Sensex and Nifty 50 closed the session in positive territory. The 30-share BSE Sensex concluded the session up by 181.87 points or 0.24 per cent at the level of 76,992.77, while the Nifty 50 finished at 23,465.60, marking an increase of 66.70 points or 0.29 per cent.In broader market movements, the Nifty Midcap 100 rose by 1.05%, and the Nifty SmallCap 100 gained 0.8%, both surpassing the performance of the benchmark indices.
The India VIX, a measure of market volatility, ended Friday 4.93% lower.Also read: Week Ahead: Macro data, BoE, China policy verdicts, FII activity, global cues among key market triggers this week“On the nifty front, we are now closed at the level of 23400–23500 mark. The discussion last week centered on the aftermath of the majority win of the NDA in the Lok Sabha elections, foreseeing the formation of a stable government and thereby an expected settling of Nifty around the 23500-23600 zone, a prediction now reflected in the current closure.
Additionally, the VIX settling below 18-20 mark suggests a low market volatility," said Ganesh Dongre, Senior Manager - Technical Research at Anand Rathi.On the Nifty outlook, Dongre said, “Looking ahead, on the nifty front sustaining above the 23600 zone is crucial for further rallies; failure to do so could result in short-term profit booking, with support standing at 23100-23200 mark. However, momentum remains bullish on the stock specific front.
In the last week we have seen a gap-up opening on Monday, with the Nifty maintaining its bullish trajectory throughout the week, culminating in a green closure above the 23400 marks. This hints at a continuation of bullish momentum in the
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