Weekly Market Wrap: Volatility Dominates

Indian markets ended the week on a relatively positive note after sharp volatility, with the Sensex gaining around 360 points in the final session and Nifty recovering towards 23,900. However, the broader weekly trend remained weak as geopolitical tensions, rising crude prices and global uncertainty kept investors cautious. Key Market Data • Rupee strengthened from ₹95.16 to ₹94.49/$ • Brent Crude Oil gained around 7.44% • Gold declined around 0.68% • Nifty: -1.15% • Bank Nifty: -0.22% • Auto: -3.95% • IT: -1.88% • PSU Bank: -1.04% • Metal: -1.54% • Media: -2.34% • Realty: -0.10% Markets remained under pressure as US–Iran tensions pushed crude prices higher, raising concerns over India's inflation and import costs. Rising global bond yields and uncertainty regarding US rate cuts also affected sentiment. Auto, IT and Media stocks remained weak, while selective Financial and heavyweight buying supported the late recovery. Stock Movers Reliance Industries: Reliance gained over 2% in a single session with strong volumes of around 63 lakh shares. As a key index heavyweight, sustained momentum in the stock could provide further support to Nifty.

, Angel One & Nuvama : Capital market intermediaries are likely to remain volatile amid high market activity and concerns surrounding SEBI's proposed closing-auction framework, which could impact transaction-fee revenue expectations. Outlook | 7–11 September US jobs data, Brent crude movement, FII/DII flows and geopolitical developments will remain key triggers. Technically, Nifty continues to trade below important short- and long-term EMAs, keeping the broader bias cautious. Immediate support is placed at 23,830–23,850, while 24,000–24,200 remains the crucial resistance zone. A sustained breakout above 24,200 could strengthen recovery momentum, while a break below 23,830 may trigger renewed profit booking.