Market outlook for next week will be guided by domestic and global GDP data, FIIs inflows and monthly F&O expiry. Sensex closed at 75,311, down 628 points or 0.83 per cent, and Nifty closed at 22,795. US new home sales data, US GDP growth rate (QoQ) second estimates for Q4 and US initial jobless claims will be released next week. The preferred strategy in this market environment is to sell on rallies. Prices are likely to test the 22,500 and 22,300 levels in the upcoming sessions, reflecting further downside risk, says Puneet Singhania, Director at Master Trust Group. The reason for deteriorating market sentiment is being attributed to US President Donald Trump’s announcement of reciprocal tariffs on major trading partners. The Sensex touched its lowest level since June 2024, closing the second consecutive week in negative territory. The index ended slightly below 22,800, signalling weakness in the market. The broader market saw some gains. Midcap and smallcap indices closed with gains of 1.70 per cent and 1.50 per cent respectively. Last week, maximum buying was seen in the metal index. At the same time, the performance of the Telecom Index was the worst.
