The market outlook for next week will be guided by global and Indian factors such as India WPI Inflation, Foreign Institutional Investors (FIIs) activity, US Fed interest rate decision, US initial jobless claims and others. Between March 10-13, Nifty fell 147.50 points, or 0.65 per cent, to 22,397.20 and Sensex fell 511.18 points, or 0.69 per cent, to 73,828.91.

The market was closed on March 14 on the account of Holi. Midcaps and small caps witnessed large selling compared to large caps. The Nifty Midcap 100 index fell 1,223 points, or 2.48 per cent, to 48,125.10 and the Nifty Smallcap 100 index fell 503 points, or 3.27 per cent, to 14,897.35.

Sectorally, the IT index led the decline, followed by banking and new-age sectors. The global market sentiment remained uncertain, especially with concerns around US President Donald Trump’s tariff policies. This uncertainty led investors to adopt a cautious approach, resulting in a lacklustre trading session.

Concerns over persistent FII outflows and the potential repercussions of US tariffs on India Inc. further dampened market confidence, raising uncertainty over Q4 earnings. FIIs recorded net outflows of Rs 5,729 crore in the cash segment, while Domestic Institutional Investors (DIIs) infused Rs 5,499 crore, providing some stability to the market.

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.