Indian equity benchmarks closed the week positively due to strong economic data and policy reforms. Sudeep Shah of SBI Securities discussed the outlook for Nifty and Bank Nifty. Nifty faces resistance at 24950-25000 and support at 24550-24500. Bank Nifty is underperforming, with resistance at 54500-54600 and support at 53600-53500.
Why the government’s latest Press Note 3 changes matter for FDI flows
India’s updated Press Note 3 framework aims to ease foreign investment restrictions from land-border countries by clarifying beneficial ownership rules and introducing faster approvals for