Indian equity markets ended Friday on a subdued note, with the benchmark NIFTY 50 slipping 49 points to close at 23,366. Despite opening 62 points higher, the index failed to hold above 23,500 and faced profit-booking pressure throughout the session.

The Nifty declined 0.77% for the week, reflecting cautious investor sentiment amid mixed domestic and global signals.

RBI Policy Highlights

The Reserve Bank of India kept the repo rate unchanged at 5.25% and maintained its neutral policy stance.

Key announcements included:

• FY27 GDP growth forecast lowered to 6.6% from 6.9%
• FY27 inflation forecast raised to 5.1%
• Six-point package introduced to attract foreign capital
• Measures aimed at boosting investments into government securities, foreign portfolio investments, and FCNR(B) deposits

These steps helped support the Indian rupee, which strengthened by 85 paise to close at 94.94 against the U.S. dollar, marking its strongest one-day gain since April 2.

Market Performance

Top Nifty gainers included:

• Adani Enterprises Limited
• Hindustan Unilever Limited
• Adani Ports and Special Economic Zone Limited

Major losers included:

• Hindalco Industries Limited
• Trent Limited
• Tata Consultancy Services

Sector-wise:

• Strongest performers: Media, Realty, Healthcare
• Weakest sectors: Metal, IT, Oil & Gas

Broader markets also weakened:

• Nifty Midcap 100: -0.35%
• Nifty Smallcap 100: -0.06%

Global Market Influence

Global sentiment turned cautious after strong U.S. employment data increased concerns that the U.S. Federal Reserve may maintain a tighter monetary stance for longer.

Technology stocks led losses on Wall Street, with semiconductor shares witnessing sharp declines. This ended a nine-week winning streak in U.S. equities and weighed on risk appetite globally.

Key Levels for Nifty Next Week

Bullish Scenario

Analysts believe a decisive breakout above 23,500–23,550 could revive momentum.

Upside targets:

• 23,700
• 23,800
• 23,900

Bearish Scenario

Important support levels:

• 23,230–23,200
• 23,150–23,100

If Nifty falls below 23,100, analysts see the possibility of further weakness toward:

• 23,050
• 22,700

What Investors Should Watch

Key market drivers next week include:

• Crude oil prices
• Developments in the West Asia conflict
• Progress of the Indian monsoon
• Foreign institutional investor flows
• Impact of RBI's capital inflow measures
• Global interest-rate expectations

The market remains in a consolidation phase, with Nifty trading within a narrow range over the last several sessions. A move above 23,550 or below 23,100 could determine the next major directional trend.