Markets Begin Samvat 2082 On A Festive High; End Flat After Profit Booking

The first trading week of Samvat 2082 began on a buoyant note, fuelled by festive optimism and upbeat consumer sentiment, but the early momentum faded as geopolitical tensions and profit-taking dampened investor confidence toward the end of the week.

India’s robust consumer demand was reflected in record festive sales, underscoring resilient household spending and the benefits of GST-led affordability.

Public sector bank stocks outperformed the broader market. Strong earnings reports and speculation over potential consolidation boosted investor interest in the sector.

Vinod Nair, Head of Research at Geojit Financial Services, noted that the precious metals market witnessed extreme volatility, with its steepest single-day fall in over a decade.

“The correction was largely due to profit booking and the strengthening of the US dollar,” he stated.

Meanwhile, crude oil prices surged sharply after the US and European Union imposed fresh sanctions on major Russian oil companies.

The move reignited fears of global supply disruptions and inflationary pressures.

Domestic stock markets ended weaker on Friday, snapping a six-day winning run. Global cues turned soft as traders resorted to profit-taking.

The Nifty index finished the week on a flat note, closing with gains of 85 points after a brief rally.

Despite hitting fresh highs earlier in the week, the index corrected by nearly 311 points from its peak. This indicated a phase of consolidation following the recent strong gains.

Nifty briefly slipped below the 25,800 mark before settling at 25,795.15. The movement indicated that traders booked profits after the sustained rise in recent sessions.

“Currently, Nifty continues to trade above its 20-day, 50-day, and 200-day EMAs, highlighting a strong underlying bullish structure and sustained trend strength,” said Hardik Matalia, Derivatives Analyst at Choice Equity Broking Pvt Ltd.

He further added, “On the weekly timeframe, the RSI stands at 61.60 and is trending sideways, indicating a neutral-to-positive bias with potential for renewed momentum once consolidation ends.”

The Bank Nifty also ended the week flat at 57,699, after touching a record high during the week.

The index surpassed its previous lifetime peak of 57,628 but later retraced by nearly 870 points, as traders locked in profits amid high volatility.

Market watchers said investors should stay alert to the ongoing India–US trade negotiations. Both countries are moving closer to finalising a bilateral trade agreement. The deal could influence market sentiment in the coming weeks.

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