New Delhi, August 30, 2026 (Yes Punjab News)
The Sensex and Nifty ended lower for a third consecutive week, keeping the near-term market outlook cautious as concerns over global interest rates, geopolitical risks and volatility linked to the new Closing Auction Session continued to weigh on investor sentiment.
Analysts have identified 77,700-78,000 as the immediate resistance zone for the Sensex. A sustained move above 78,000 could strengthen the ongoing recovery and take the index towards 78,500-78,800.
On the downside, 77,000 remains a key psychological support, followed by the 76,700-76,500 region. Analysts said the Sensex needs to hold above 77,000 to preserve its broader recovery structure, while a decisive break below that level could bring renewed selling pressure.
The Sensex remains within a broader consolidation phase following a period of correction, with a decisive move beyond key resistance levels considered important for any sustained recovery.
For the Nifty, market experts identified 24,000-23,800 as the immediate support zone. Holding this range would be crucial for maintaining the index’s broader technical structure.
Mishra said the 24,300-24,400 range represents the immediate resistance zone for the Nifty. A sustained breakout above 24,400 could improve the technical setup and pave the way for a recovery towards 24,600.
Despite the cautious weekly trend, both benchmark indices staged a strong rebound on Friday, helped by robust buying in IT stocks, positive global technology cues and softer oil prices.
The Sensex gained 331 points, or 0.43 per cent, to close at 77,264.51, while the Nifty rose 85 points, or 0.35 per cent, to settle at 24,175.65.
However, the weekly performance remained negative, with the Sensex declining nearly 0.36 per cent and the Nifty falling around 0.31 per cent.
The broader market showed greater resilience. The Midcap index gained about 0.52 per cent, while the Smallcap index rose approximately 0.51 per cent.
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