The Nifty 50 experienced a rollercoaster ride on the weekly expiry day, closing 0.32% lower at 25,145 despite a positive start. The index displayed significant volatility throughout the trading session, swinging between a high of 25,310 and a low of 25,060.

Market Performance

The day's trading was characterized by intense expiry-related unwinding, which amplified selling pressure, particularly in the first half of the session. Here's a breakdown of the key performers:

Sectoral Overview

The market breadth remained negative, with all sectoral indices closing in the red. The sectors facing the steepest declines were:

• PSU Banks
• Consumer Durables
• Media
• Metal

Market Movers

Data Centre Stocks in Focus

Google's announcement of a $15.00 billion investment over five years for an AI data centre in Andhra Pradesh has put data centre stocks in the spotlight.

Inflation Data

India's retail inflation eased to 1.54% in September, potentially fueling expectations of a rate cut.

Upcoming Earnings

Investors are keenly awaiting key earnings results from:

• Axis Bank
• HDFC Life
• HDFC AMC
• L&T Finance
• HDB Financial
• Angel One

Technical Outlook

Despite the day's decline, analysts maintain that the primary uptrend remains intact. The key levels to watch are:

• Support: 25,000-25,050
• Resistance: 25,300-25,400

Investors and traders are advised to keep a close eye on these levels in the coming sessions.

The Nifty 50 index has shown resilience with a two-day upward movement, closing at its peak on Friday despite trading within a 150-point range. However, this rally is set to face a significant test in the coming week as two major Initial Public Offerings (IPOs) open simultaneously, vying for investor attention.

IPO Bonanza

The market is bracing for an influx of new offerings totaling ₹27,107 crore:

These IPOs will compete for investor funds on Tuesday, potentially impacting market dynamics.

Nifty's Technical Outlook

The Nifty is approaching a critical juncture:

• Current approach: 24,900 mark
• Key resistance levels: 25,017 and 25,113
• Immediate support: 24,730-24,600

Technical analysts suggest that these levels could play a crucial role in determining the index's short-term trajectory.

Banking Sector Strength

The Nifty Bank index has demonstrated notable strength:

• Four-day winning streak following Reserve Bank of India policy announcements
• Nearly retraced its entire decline from September highs

This performance indicates renewed investor confidence in the banking sector.

Corporate Earnings in Focus

TCS (Tata Consultancy Services) is scheduled to announce its quarterly results on Thursday. Investors will be watching closely, particularly in light of:

• Ongoing visa-related issues
• Recent reports of layoffs

The tech giant's performance could provide insights into the broader IT sector's health.

Market Sentiment

Despite the positive momentum, the market faces several tests:

1. Absorption capacity for the large IPOs
2. Technical resistance levels for the Nifty
3. Corporate earnings, starting with TCS

Investors and traders should monitor these factors closely as they navigate the market in the coming week.