Next logical target for Nifty: 26,277

GLOBAL MARKETS rallied last week following the announcement of a ceasefire in the Israel-Iran conflict.

- V.K. Sharma

The Nasdaq and the S&P 500 climbed 4.25% and 3.82%, respectively, ending the week at record highs. The Dow gained 3.82% but remains 2.65% below its all-time high set in December 2024.

Back home, the Nifty also advanced, rising 2.09% for the week to close at 25,637. It registered an intraday high of 25,654, achieving the 25,650 target we had outlined in our article dated April 21, 2025. However, the benchmark is still 640 points, or 2.49%, shy of its all-time high of 26,277 recorded on September 27, 2024. The Bank Nifty posted a fresh record high with a 2.12% gain, while the Small-Cap Index surged 4.33%.