Indian Stock Market Gains After 6 Weeks of Losses | Nifty & Bank Nifty Outlook

The Indian stock market began the week on a positive note, with benchmark indices rising on Monday morning after six consecutive weeks of losses. Despite the early uptick, overall investor sentiment remains cautious due to looming concerns over a possible increase in export taxes.

At 9:44 am, the Sensex was up 54 points or 0.07%, trading at 79,996, while the Nifty 50 rose to 24,378.

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Last Week’s Weakness Lingers

Last week saw the indices lose nearly 1%, driven by poor performance in heavyweight companies and weak global cues. The market remained under selling pressure as investors awaited key policy and geopolitical developments.

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Global Headwinds: Trump’s Export Tax Shock

US President Donald Trump recently announced a 50% tariff on Indian exports, with 25% of that already implemented. This unexpected move has rattled market confidence, especially among export-oriented companies.

Market participants are now closely watching the August 15 meeting between Trump and Russian President Vladimir Putin, which could bring developments in the ongoing Ukraine conflict.

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Nifty 50 Technical Outlook

According to technical analyst Bhojane, the Nifty has formed six consecutive red candles on the weekly chart—a rare pattern that signals persistent selling pressure.

• Support Level: 24,200

• Resistance Level: 24,590

If the index fails to hold above its support, further downside pressure could emerge in the short term.

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Bank Nifty: Early Signs of Fatigue

The Bank Nifty followed the overall market trend last week, closing below the 55,000 mark at 54,904.90, down 612.70 points or 1.10%.

Selling in major private sector banks, combined with weak global market sentiment, weighed heavily on the sector. Analysts believe that while the Bank Nifty has shown strong performance in the past, it is now exhibiting signs of fatigue near its peak levels.

• Support: Strong buying expected at lower levels if the index dips further.

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Outlook for the Week

Traders will keep a close watch on:

• Any updates on the proposed Indian export tax.

• Geopolitical developments from the Trump–Putin meeting.

• Key technical support levels for Nifty and Bank Nifty.

Despite Monday’s early gains, market volatility is expected to remain high in the coming sessions