Stock market to remain unstable, say analysts

Mumbai

Stock market experts said on Saturday that market volatility is likely to continue due to ongoing global tensions, changing tariff rules, Q4 earnings reports, and major US economic updates. On May 2, the Nifty index saw a mixed session. It opened strong and hit an intraday high of 24,589, but later slipped due to profit booking, ending nearly flat at 24,346.70, up just 12.50 points.

The BSE Sensex rose 1.6% during the week, while Nifty50 gained 1.2%. However, the Midcap index dropped 0.4%, and the Smallcap index stayed flat. Sector-wise, gains were seen in media, IT, energy, and oil & gas, while losses were recorded in power, pharma, telecom, realty, metal, and consumer durables.

Analysts observed that Nifty is struggling to break past resistance zones, indicating market hesitation. This is the seventh session in a row with a tight range, showing pressure from sellers and caution among investors.

Nifty is expected to move between 24,550 and 23,800 in the near term. The lower level of 23,800 matches last week’s low, while 24,550 is a key retracement level from a past fall. Analysts believe the market needs this pause to balance after a sharp rally.

The Bank Nifty index is also in a phase of rest after gaining 11% over six sessions. It is trading between 54,000 and 56,000. A breakout above 56,098 may lead to further gains. Until then, a cautious outlook remains as investors focus on company results and global updates. Stock-specific moves are expected to guide short-term trends.