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Nifty 50 likely to trade in the range of 25,900 to 26,500 this week: Experts
The Morning Standard
|September 30, 2024
SUPPORTED by the growing optimism about reducing borrowing costs after the US Federal Reserve cut key benchmark rate by 50 bps in the week ending September 20, local benchmark indices, Nifty 50 and Sensex continued their upward momentum for the third consecutive week, reaching fresh all-time highs.
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The Nifty 50 and Sensex climbed to alltime highs of 26,277.35 and 85,978.25 respectively, before closing the week at 26,178.95 and 85,571.85, a weekly gain of about 1% each. Market experts believe the optimism to continue where Nifty50 will face resistance at 26,500 on the upside and 25,900 on the downside. Fundamentally, the market will be guided by global cues and macroeconomic data. "Nifty 50 has delivered a
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