Nifty week ahead: How the index may perform and what factors will drive it3 min read . Updated: 15 Jan 2023, 12:18 PM IST
- The 50-scrip benchmark managed to stay between 17,800 to 18,100 last week, however, its overall weekly upside was merely 0.5%. Foreign institutional investors (FIIs) were net sellers throughout the week with an outflow of ₹9,605.64 crore in Indian equities.
Nifty 50 is currently below its psychological 18,000 mark with more bears taking control of markets than bulls so far in January. The benchmark ended last week broadly on a flat note with massive foreign funds outflow and big IT companies' Q3 earnings being key highlights. In the week ahead, Q3 earnings of other major companies will continue to influence sentiment along with macro data of key economies like the US, China, and Europe. If Nifty slips below 17,800 levels from January 16 to 20th, then the index is seen to move towards below 17,500 levels.
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