The Indian stock market experienced a volatile week, with Nifty touching a two-week high before closing in the red. The market faced pressure from multiple sectors, particularly banking and IT, which dragged the indices lower. Here’s a detailed look at how the market performed across different sectors:

Key Highlights of the Week

1. Nifty Metal and Energy Surge but End in Red

Nifty Metal hit a two-month high but was unable to sustain its gains, closing in the red.

Nifty Energy also reached a three-week high but ended the week with losses.

2. Banking Sector Hits 9-Month Low

Nifty Bank saw significant pressure, reaching a 9-month low, mainly due to losses in IndusInd Bank.

Nifty PSU Bank, which had shown some resilience earlier, also ended in negative territory.

3. Realty, Auto, and Midcap Indices Witness Weakness

Nifty Realty, Nifty Auto, and Nifty Midcap all closed in the red, indicating a broad-based correction across sectors.

Midcap stocks fell by over 1%, led by Vodafone Idea and AU Small Finance Bank.

4. Smallcap and IT Stocks Face Heavy Selling

Nifty Smallcap index declined by over 2.5%, reflecting weakness in the broader market.

The IT sector was the top sectoral loser, with Nifty IT hitting an 8-month low.

IT stocks declined more than 4%, with L&T Technology Services and Wipro leading the fall.

Market Sentiment and Outlook

The market saw selling pressure across multiple sectors, with banking and IT taking the biggest hit. Despite hitting short-term highs, profit booking and negative sentiment led to a weak close. Investors should closely watch global market trends, economic data, and upcoming policy announcements for further cues.

While the market reached key resistance levels, it failed to hold gains, indicating bearish sentiment. Investors should adopt a cautious approach and track developments in the banking and IT sectors for future movements.