Mumbai (Maharashtra) [India], November 9 (ANI): Indian stock markets are expected to remain volatile in the near term amid global uncertainties and a heavy flow of economic and earnings data, according to market analysts. The upcoming week is crucial, with several key macroeconomic data releases scheduled. Domestically, focus will be on India’s CPI and WPI inflation data, which are expected to provide insights into the inflation trajectory and policy outlook.
“Markets are likely to remain volatile in the near term amid global uncertainties and a heavy flow of economic and earnings data,” said Ajit Mishra, SVP, Research, Religare Broking Ltd. Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities, added that the 25,300-25,250 zone is likely to serve as a crucial support area for Nifty.
Mishra noted that while short-term sentiment could remain cautious due to persistent FII outflows and uneven earnings, improving domestic macro indicators and steady corporate performance may provide underlying support. Analysts expect broader markets to witness a mixed trend, with larger midcaps likely to outperform, while smallcaps may continue to face selling pressure.
On Friday, markets ended lower for the second consecutive week, weighed down by foreign fund outflows, mixed corporate earnings, and cautious global cues. Despite optimism surrounding progress in India-US trade talks, sentiment remained subdued during the holiday-shortened week. Both benchmark indices declined over 0.80 per cent, with the Sensex closing at 83,216.28 and the Nifty at 25,492.30.
The market’s weekly tone was shaped by a combination of domestic and global factors. Improved GST collections, a surge in retail sales during the festive season, and encouraging updates on India-US trade negotiations provided some support. However, mixed quarterly earnings, a sharp decline in exports to the US, and continued FII selling weighed on overall sentiment. Globally, renewed concerns over the valuation of AI-related stocks triggered profit-taking across major markets, dampening risk appetite further.
Sectoral performance was largely negative, with weakness in Metal, IT, and FMCG dragging benchmarks lower. In contrast, selective strength in Financials and Banking provided partial support. Among broader indices, the Midcap index ended flat, while the Smallcap index declined 1.7 per cent, indicating profit booking in the wider market. (ANI)
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