Indian stock indexes end eight-week losing streak

India’s Nifty 50 and Sensex stock indexes ended an eight-week run of weekly losses, rising 0.44% and 0.78% respectively.

The Nifty Bank index also rose, gaining 1.48% after six weeks of declines.

The indexes stayed above key support levels despite volatile trading, which leaves room for a recovery, according to the outlook.

Foreign portfolio investors sold $3.6 billion of shares during the week, bringing October’s equity outflows to $4.58 billion; continued selling could weigh on the market.

For the Nifty 50, 22,100 is a key level to watch: staying above it could allow a rise toward 22,800–23,000, while falling below it could bring further declines.

The Sensex’s key support zone is 71,000–71,200, while 73,550 is a resistance level that would need to be decisively surpassed to open the way to higher levels.

The outlook says the broader market recovery depends on indexes holding their support levels, while a break below them could increase selling pressure.