Sensex, Nifty Extend Gains as Realty, Metal Stocks Rally

Macro Headwinds and Crude Volatility

Despite two straight days of positive momentum, market strategists urge caution, citing sustained global headwinds that could trigger profit-taking in large-cap equities.

Brent crude surged toward $94 per barrel after U.S. Treasury Secretary Scott Bessent signaled that Washington is preparing to enact unprecedented economic sanctions against Iran. The resulting threat to global energy supply lines, combined with persistent upward pressure on U.S. Treasury yields, poses an ongoing challenge for emerging market risk appetite.

Asian equities mostly tracked lower on Friday following overnight losses on Wall Street, where extended Treasury yield spikes weighed down global growth sentiment.

Market Outlook and Technical Structure

Market participants anticipate that the broader indices will trade within a defined range as long as crude oil stays elevated. Non-Banking Financial Companies (NBFCs), specialized pharmaceutical producers, and digital platform platforms continue to demonstrate resilience, drawing steady institutional inflows despite elevated valuations.

From a technical perspective, Nifty logged a bullish Doji formation on daily charts following seven consecutive sessions of losses. Market analysts note this candlestick pattern indicates a temporary exhaustion of selling pressure.

The technical structure suggests potential upside targets toward the 24,317–24,380 range, with scope for further movement toward 24,545, provided Nifty holds above its core support zone between 24,000 and 24,060.