Nifty Breaks Out, Breadth Lags: Cautious Optimism Ahead

The markets remained largely range-bound through the past week but managed to end on a positive note. Nifty oscillated within a narrow intra-week range of 467.50 points as it moved between 25,842.95 and 26,310.45 levels. While the index did mark a fresh lifetime high, the move was not backed by strong participation across broader markets. Meanwhile, India VIX declined sharply by 14.77% on a weekly basis, ending at 11.62, a level that keeps the overall volatility environment subdued. Nifty ended the week with a modest gain of 134.80 points, or 0.52%. The month also ended; Nifty gained 480.85 points on a monthly note.