New Delhi, Feb 23 The market outlook for next week will be guided by domestic and global GDP data, FIIs inflows and monthly F&O expiry.
On the domestic front, second advance estimates of India's annual GDP for FY 2024-25 along with quarterly GDP estimates for Q3 (October-December) will be released on February 28.
The GDP estimates will guide near-term market sentiment, upward revisions may lift optimism while downward tweaks could spur concerns over growth headwinds.
Additionally, Nifty and BankNifty monthly F&O (Futures and Options) contracts set to expire on February 27.
On the global front, US new home sales data, US GDP growth rate (QoQ) second estimates for Q4 and US initial jobless claims will be released next week.
Last week was a mixed bag for the Indian stock market. Sensex closed at 75,311, down 628 points or 0.83 per cent, and Nifty closed at 22,795, down 133 points or 0.58 per cent.
Meanwhile, 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. The reason for deteriorating market sentiment is being attributed to US President Donald Trump's announcement of reciprocal tariffs on major trading partners.
Foreign investors continued selling in the stock market last week also. Foreign institutional investors (FIIs) have sold Rs 7,793 crore in the cash segment. At the same time, domestic institutional investors (DIIs) invested Rs 16,582 crore in equity.
Puneet Singhania, Director at Master Trust Group said, "Nifty 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."
"Additionally, both the RSI and MACD indicators remain negative, reinforcing the downtrend. 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," he added.
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