Stock market next week: The Indian market closed almost unchanged on Friday, November 28, as investors booked profits at higher levels and remained cautious ahead of the Q2 GDP announcement. Mixed signals from global markets also failed to lift sentiment.
The Sensex slipped 14 points (0.02%) to finish at 85,706.67, while the Nifty 50 edged down 13 points (0.05%) to 26,202.95. The BSE Midcap index eased 0.04%, and the Smallcap index declined 0.13%.
“Markets extended their winning streak for the third successive week and scaled new record highs, supported by improving global risk sentiment and constructive domestic cues. While early sessions saw bouts of profit-taking, sharp rebound midweek restored bullish momentum, followed by healthy consolidation. By the end of the week, the Nifty gained 0.52% to 26,202.95, and the Sensex advanced 0.56% to 85,706.67,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
On the market outlook next week, Mishra added that with global rate-cut expectations firming up and India’s domestic growth outlook reinforced by strong GDP data, the medium-term market structure remains constructive.
“Near-term volatility is likely given the heavy macro calendar and the upcoming RBI policy announcement. Investors should continue to adopt a buy-on-dips approach near key support levels and prioritise large caps for stability. Traders, on the other hand, should keep trailing stop-losses on profitable positions and focus on sectors demonstrating strong price structure and consistent institutional demand,” he said.
(This is a developing story)
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