Indian equity markets extended gains for a second consecutive week as geopolitical tensions eased in West Asia. The Nifty 50 rose 0.65% to close at 24,353.55, while the Sensex gained 0.65% to 78,493.54, with both indices climbing over 1.3% for the week. Cooling oil prices and rupee strength supported the rally, with mid-cap and small-cap indices outperforming, gaining 3.5-4.4% weekly. Foreign portfolio investors net bought shares worth 683 crore, though domestic institutions remained net sellers. However, analysts warn the Nifty is approaching critical resistance at 24,300-24,500 levels where profit-taking could emerge. Technical indicators show early signs of negative divergence on hourly charts, suggesting momentum may be slowing despite prices continuing higher. The VIX fell 4.9% to 17.
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