Sensex, Nifty Volatility Likely Amid US Fed Minutes, Crude Oil Prices

The Indian stock market is set for a volatile week starting Monday, August 17, after the Sensex lost about 500 points and the Nifty fell 205 points last week. On Friday, the Sensex closed at 78,009, down 71 points, while the Nifty ended at 24,366, losing 30 points.

According to ndtvprofit.com, key drivers for the week include the US Federal Reserve policy minutes, crude oil prices, and the US-Iran conflict, along with the tail-end of quarterly results. Analysts quoted by The Economic Times said a sideways trend persists as investors await clarity on energy prices and global bond yields. Geojit Financial Services' Vinod Nair noted that better-than-expected earnings and supportive domestic factors continue to create opportunities for stock selection.

Technical levels from SBI Securities show immediate resistance for the Nifty at 24,500-24,550, with support at 24,230-24,200. Broader markets ended weaker on Friday, with the Nifty Smallcap 100 and Midcap 100 indices falling about 0.7 per cent each.