Street signs: Nifty hits a speed hump, MF industry on tax tightrope, more

The benchmark National Stock Exchange Nifty posted its second straight weekly gain, rising by 0.75 per cent after a 3.4 per cent jump in the preceding week. The 50-share index closed at 23,466. Technical analysts believe the market could consolidate further as 23,500 remains a key resistance level. “The confidence has resumed, thanks to political stability. However, the focus has shifted to specific stocks. In the coming week, Nifty’s initial hurdle will be around 23,500. Once surpassed, Nifty could rally towards 23,900–24,000.On the downside, key supports are at 23,300, followed by the 23,000–22,900 zones.

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