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Informist, Friday, May 30, 2025

By Akash Mandal

MUMBAI - Benchmark indices are expected to consolidate next week amid lack of major triggers for the market, analysts said. While some analysts believe the likely rate cut by the Reserve Bank of India at its policy meeting next week has already been factored in by the market, others see rate cut as a positive trigger. The Nifty 50 is seen moving in a range of 24400-25100 next week.

"We will have to wait and watch one day at a time as there are no triggers for it to move," Jigar Patel, senior manager of equity research at Anand Rathi Shares & Stock Brokers, said. "If the Nifty closes below 25000 next week, it might fall back to the 24200-24400 levels soon," Patel said. On Friday, the Nifty 50 ended at 24750.70 points, down 82.90 points or 0.3%, and the BSE Sensex closed at 81451.01 points, down 182.01 points or 0.2%. 

Amol Athavale, vice president of technical research at Kotak Securities, also believes the market will remain range-bound next week. "As long as the market remains between the 24650/80900 and 25000/82200 ranges, a sideways, range-bound texture is likely to continue...a breach of 24650/80900 could change the sentiment. Below this level, the market is likely to retest the levels of 24450/80300–24300/79800," Athavale said in a note.

Analysts' views were mixed about the Nifty Bank index next week. "Bank Nifty is likely to make a fresh high next week after weeks of consolidation," Anshul Jain, head of research at Lakshmishree Investment and Securities. However, Patel of Anand Rathi believes investors should be cautious while dealing in the index. "According to charts there is a chance (for a record high)...however, one has to be cautious as there might be a pullback of 2000-3000 points once the index reaches the high. For now, strategy should be to buy on dips and book as much profit as you can," Patel said. On Friday, the Nifty Bank ended at 55749.70 points, up 0.4%. The index had reached an all-time high of 56098.70 on Apr. 23, driven by buying from foreign investors.

On the earnings front, investors await March quarter results of Apollo Hospitals Enterprise, due later in the day. Vodafone Idea will also announce its earnings later Friday. With that, the March quarter earnings will come to a close with all Nifty 200 companies having reported their quarterly number. Analysts said earnings for the March quarter have been better than the December quarter, with some sections of the market reporting robust earnings growth. Investors will now shift their focus towards earnings expectations for the June quarter, analysts said.  End

Edited by Vandana Hingorani

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