Geopolitical uncertainty over Middle East oil routes has kept traders in a cautious stance, pushing the Nifty to stay near key support.
The index rose 75 points to 23,250, marking the third straight session of gains, yet the week ended 0.22% lower as sellers took advantage of higher levels. HDFC Bank and UltraTech Cement were the top gainers, while TCS and TMPV lagged.
Sectoral performance was mixed: the Nifty Midcap 100 gained 1.24%, the Smallcap 100 rose 1.74%, and Nifty IT fell 0.8%.
Global backdrop saw Brent recover to $102.50 a barrel after a brief dip, U.S. Treasury yields eased to 3.8% on the 10‑year, and the rupee traded at ₹96.05 per dollar.
Technical analysis points to a resistance cluster at 23,500‑23,600, with 23,520 acting as a potential short‑covering trigger, while the 23,100‑23,000 band remains critical support.
Going forward, investors will monitor the September flash PMI, August infrastructure output, and bank credit growth, as the market waits for the next earnings cycle and potential policy shifts.