Stock Market

Global stocks traded with caution this week due to ongoing inflation concerns and the prospect of further central bank interest rate hikes. Key economic indicators from the US, Europe, and Asia presented a mixed outlook, influencing investor sentiment.

Indian equity benchmark Nifty 50 is consolidating near 24,500, facing resistance above and support at 24,000. Options data suggest a cautiously optimistic outlook for the September series, with key levels to watch being 24,500 for upside and 24,000 for downside. Geojit Investments highlights Ather Energy and Nazara Technologies as potential stock picks.

Indian equities closed higher on Friday, led by a surge in IT stocks, with the Sensex up 331 points and Nifty 50 rising 85 points. Markets are keenly watching for global economic cues and Federal Reserve commentary on inflation, which could influence interest rate expectations and domestic policy.

HSBC's share price has surged 60% in the past year, outperforming peers due to higher interest rates and global diversification. While recent profits are strong, analysts are divided on future performance, with a consensus target implying a slight dip. However, one forecast predicts a significant 27% slump to 1,117p by September 2027 amidst regulatory concerns and valuation considerations.