Indian benchmarks wrapped up a turbulent week in the red, setting the stage for heightened drama next week driven by the Union Budget 2026, Federal Reserve outcomes, Q3 corporate scorecards, and broader global narratives.
Profit-taking and FII selling, exacerbated by geopolitical headwinds, drove Friday’s rout: Sensex fell 0.94% to 81,537.70, Nifty 0.95% to 25,048.65.
Nifty’s technical setup shows resistance buildup at 25,300-25,600 band. Supports at 24,880-24,587 offer breathing room, but slipping under 24,350 risks sharper drops.
Headlining is the February 1 budget presentation by Nirmala Sitharaman, where tax announcements, infra spending, govt outlays, and growth measures will be parsed for market implications.
Fed’s meet on January 27-28 is poised for status quo on rates, yet chair and members’ comments could shift global risk appetite and fund flows into EMs.
Earnings frenzy continues with marquee names reporting FY26 Q3 numbers, set to validate or challenge growth narratives. India-US trade momentum, per recent official nods, adds bullish tint.
Gold’s record run to ~$5,000/oz and silver to ~$100/oz, fueled by tensions and weak dollar, underscores equity caution.
As agendas collide, strategic positioning amid volatility will separate winners from the pack in this make-or-break week.