Today’s stock market India: The Nifty 50 and Sensex rose 2.3% and 2.4%, respectively, this week, reaching their highest levels since early June, when the general election results affirmed economic policy continuity.
The Sensex and Nifty have both experienced their best week in five months, with the Sensex declining 56.74 points or 0.07% to 81,709.12. The Nifty Smallcap 100 index extended its winning streak for the 11th consecutive session, adding 0.82 per cent to reach 19,492, and ending the week with a robust gain of 4.51 per cent.
The broader, domestically-focused midcaps rose 0.5% on the day and ended the week about 4.3% higher.
Analysts suggest that central bank concerns over a recent growth slump and elevated inflation could keep markets in consolidation mode, with a positive bias in the coming days.
Experts Technical View: The Nifty is maintaining above an inverse head-and-shoulders pattern, indicating market strength. A buy-on-dips strategy is recommended due to the potential for an upward move toward 25,500 in the short term. However, minor pullbacks following a rally may be possible, emphasizing the effectiveness of buying on dips.
