Mumbai: The Indian stock market's trajectory next week will be shaped by both domestic and global factors, including Wholesale Price Index (WPI) inflation, the US Federal Reserve's interest rate decision, and Foreign Institutional Investors' (FIIs) trading activity. Additionally, US jobless claims data and global market trends will be closely monitored.

During the period from March 10-13, the Nifty declined 147.50 points (0.65%) to 22,397.20, while the Sensex fell 511.18 points (0.69%) to 73,828.91. Markets remained closed on March 14 for Holi.

Midcap and small-cap indices faced greater selling pressure compared to large-cap stocks. The Nifty Midcap 100 index tumbled 1,223 points (2.48%) to 48,125.10, while the Nifty Smallcap 100 index dropped 503 points (3.27%) to 14,897.35.

Sector-wise, the IT sector led the losses, followed by banking and new-age sectors.

Investor sentiment remained subdued amid concerns over US President Donald Trump’s tariff policies. The ongoing uncertainty prompted a cautious approach in trading, leading to lacklustre market activity.

Persistent FII outflows and worries about the impact of US tariffs on India Inc. added to the uncertainty regarding Q4 earnings, further affecting market confidence.

FIIs recorded net outflows of ₹5,729 crore in the cash segment, while Domestic Institutional Investors (DIIs) provided some support by infusing ₹5,499 crore.

Puneet Singhania, Director at Master Trust Group, said, "Nifty closed negative this week and is currently trading above its 100-week Exponential Moving Average (EMA), which is near 22,000, while remaining below the 21-day EMA. Immediate support is at 22,300, and a breach below this level could trigger further selling towards 22,000."

"On the upside, 22,630 is a crucial resistance level, and a breakout above it may lead to an up move toward 22,800. A bearish outlook remains favourable unless the index decisively closes above its 21-day EMA," he added.

IANS