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Nifty faces weekly loss as crude, global cues weigh; analysts see support near 24,100

Indian benchmark indices extended losses for the third consecutive week, with the Nifty 50 slipping 47% to close at 24,252. Analysts point to support near 24,100 and resistance around 24,450-24,500, as global cues, crude prices, and FII outflows continue to influence sentiment.

By Tertius News AI Desk 2 distinct · 2 mastheads · 4 articles Version 1 Coverage Aug 19–30, 2026 Published 2h ago

Nifty logs third weekly loss; broader indices scale fresh highs

Indian equity benchmarks ended lower for the third straight week, with the Nifty 50 declining 47% to close at 24,252, as per CNBC TV18. The week was marked by range-bound trading, with the index remaining under pressure from elevated crude prices, global cues, and continued selling by foreign institutional investors (FIIs).

Despite the weekly loss, the Nifty closed the final trading session of the week higher by 20 points, or 08%, at 24,252, after opening 53 points higher and remaining range-bound for most of the session, reported CNBC TV18. The index gained 19 points during the closing auction session, helping it end in positive territory for a second consecutive session.

The broader markets outperformed the benchmarks, with the Nifty Midcap 100 and Nifty Smallcap 100 each gaining around 5% during the week to scale fresh record highs, according to Moneycontrol. The Nifty Midcap 100 rose 5% to hit an all-time high of 90, while the Nifty Smallcap 100 touched a record 55.

Crude, FII outflows weigh

Crude oil prices remained a key overhang, with Brent crude trading around $91 a barrel, while geopolitical tensions and weak global cues continued to weigh on sentiment, as reported by CNBC TV18. FIIs remained net sellers for the second consecutive week, offloading equities worth ₹20,260 crore, according to Moneycontrol.

Siddhartha Khemka of Motilal Oswal told CNBC TV18 that the market is expected to remain under pressure amid weak global cues, elevated crude prices, and continued geopolitical tensions.

Technical levels: What analysts are watching

Technical analysts SBI Securities' Sudeep Shah, HDFC Securities' Nagaraj Shetti, LKP Securities' Rupak De, and Kotak Securities' Amol Athawale shared their views on the market's direction, as reported by CNBC TV18 and Moneycontrol.

Shetti said the underlying trend of the Nifty remains positive and the index could move towards 24,500-24,600 next week, with immediate support at 24,200. The index has managed to sustain above its 50-day and 100-day EMAs, which are clustered around 24,200, he added.

De said the overall sentiment remains sideways to mildly positive, with immediate support at 24,200. A break below this level could potentially drag the index towards 24,000, he told CNBC TV18. On the upside, 24,350 is the immediate resistance, above which the Nifty could move towards higher levels, De added.

Shah said that a sustained move above the 24,450-24,500 resistance zone could reinforce positive momentum, as per CNBC TV18. Athawale noted that the index has been consistently facing resistance near the 20-day SMA at the 24,350/77,900 zone, according to Moneycontrol.

Sector and stock action

Sectoral performance was mixed during the week, with Nifty Metal, IT, Pharma and Healthcare indices rising more than 2% each, while Nifty FMCG, Infrastructure and Oil & Gas indices declined 1% each, reported Moneycontrol.

Power Grid, HDFC Life and Nestlé were the top gainers among Nifty 50 constituents on Friday, while Trent, Maruti Suzuki and IndiGo were the major laggards, as per CNBC TV18.

How each outlet told it

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CNBC TV18 · 3 articles

Framing: Headline emphasizes analysts' positive outlook, projecting further upside for Nifty towards 24,500-24,600 after the expiry-day surge

as of Aug 25, 2026, 4:17 PM UTC

Facts Included:

Nifty surged 115 points to settle at 24,334 on Tuesday
Nifty opened 44 points lower and witnessed two-way trade in the first half
Strong buying in the final two hours lifted the benchmark more than 200 points from the day's low
The closing auction session (CAS) provided an additional boost, with Nifty gaining nearly 75 points
Adani Enterprises, Max Healthcare and Apollo Hospitals were the top gainers
HDFC Life, Cipla and ONGC were the major losers
All sectoral indices ended higher except Nifty Metal and Nifty Private Bank
Healthcare, Consumer Durables and Pharma were the top-performing sectors
Crude oil prices declined 2% to around $89 a barrel, its lowest level in a week
Nandish Shah of HDFC Securities said the CAS gain helped Nifty engulf the moves of the previous three sessions
The index reclaimed its 20-day DEMA, placed around 24,100
Shah said Nifty has been respecting support from an upward-sloping trendline on the weekly charts
Osho Krishan of Angel One said a sustained move above 24,450-24,500 resistance could reinforce positive momentum
Nagaraj Shetti of HDFC Securities said Nifty's short-term trend has turned positive following a new higher bottom
Shetti sees next upside levels at 24,500-24,600, with immediate support at 24,100
LKP Securities' Rupak De said Nifty remained sideways to negative for most of the session before a sharp recovery in the final hour

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as of Aug 19, 2026, 7:54 PM UTC

Framing: Headline emphasizes the index slipping below a key technical level (50-DMA) and approaching a round-number threshold (24,000), framing the day's outcome as a bearish technical event. — Analytical and cautionary, with a neutral market-reporting style but an undercurrent of concern about potential further downside if key support levels break.

Facts Included:

The Nifty 50 extended its losing streak to seven sessions, declining 0.32% to close at 24,000.
The Nifty Midcap 100 and Nifty Smallcap 100 declined 0.2% and 0.5%, respectively.
Nifty IT was the only sectoral gainer, rising 0.4%.
HCL Tech and JSW Steel ended as the top Nifty gainers.
Max Health and Coal India were the biggest losers.
The Midcap index witnessed profit booking after hitting 64,139 on August 14.
The Smallcap index has been consolidating in the 19,674-19,936 range since August 6.
Asian markets traded lower, led by South Korea's Kospi, which fell more than 1%.
According to Siddhartha Khemka of Motilal Oswal, the Nifty is expected to remain under pressure amid weak global cues, elevated crude prices and continued geopolitical tensions.
SBI Securities' Sudeep Shah sees immediate support in the 23,950-23,900 zone.
Angel One's Hitesh Rathi said any bounce from current levels should be monitored for sustained buying interest rather than being treated as a confirmed reversal.
LKP Securities' Rupak De also sees 24,000-24,050 as the immediate support zone.
If this holds, the Nifty could stage a meaningful recovery.
However, a sustained break below 24,000 could intensify bearishness and drag the index towards lower levels.

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as of Aug 23, 2026, 1:16 PM UTC

Framing: Emphasizes consolidation and defense of key levels in the Nifty outlook

Facts Included:

Nifty closed the week at 24,252, down
The Nifty 50 closed higher for the second consecutive session on Friday, gaining 20 points
The index opened 53 points higher but remained range-bound for most of the session
The Nifty gained 19 points during the closing auction
Power Grid, HDFC Life and Nestlé were the top gainers among Nifty 50 constituents
Trent, Maruti Suzuki and IndiGo were the major losers among Nifty 50 constituents
Metals, Private Banks and Realty ended higher, while Auto, Media and IT were among the biggest losers
The Nifty Midcap 100 rose and the Nifty Smallcap 100 gained
HDFC Securities' Nagaraj Shetti said the underlying trend of the Nifty remains positive and the index could move towards 24,500-24,600 next week
Shetti sees immediate support at 24,200
The Nifty has managed to sustain above its 50-day and 100-day EMAs, which are clustered around 24,200
The index remains below the 20-day EMA at 24,300 and the 200-day EMA at 24,376
LKP Securities' Rupak De said the overall sentiment remains sideways to mildly positive
De sees 24,200 as immediate support, with a break below this level potentially dragging the index towards 24,000
On the upside, 24,350 is the immediate resistance, above which the Nifty could move towards
The Bank Nifty traded within a 290-point range during Friday's session
SBI Securities' Sudeep Shah sees immediate resistance for Bank Nifty in the 58,200-58,300 zone
A sustained move above this range could extend the pullback towards 58,700
On the downside, immediate support is placed at
Disclaimer: The views and investment tips expressed by investment experts on CNBC TV18 are their own and not that of the website or its management
CNBC TV18 advises users to check with certified experts before taking any investment decisions

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Moneycontrol

Framing: Highlights the outperformance of mid and smallcap indices and their record highs, framing the week positively despite benchmark declines. — Analytical and neutral, with a focus on technical analysis and market data.

as of Aug 30, 2026, 8:30 AM UTC

Facts Included:

Nifty FMCG, Infrastructure and Oil & Gas indices declined 1% each, while Nifty Auto and Defence indices slipped nearly 1% each.
Foreign institutional investors (FIIs) remained net sellers for the second consecutive week, offloading equities worth ₹20,260 crore during the week.
The total market capitalisation of BSE-listed companies declined by a little over Rs 1 lakh crore during the week.
Technical analysts from SBI Securities, HDFC Securities, and LKP Securities provided views on the market's direction, including support and resistance levels.

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What was claimed, and who backed it

AI-extracted; can misattribute a claim — see Methodology.

Each row is one claim, attributed to the outlet whose wording states it most clearly. Confidence rates how directly the source text states the claim — explicit and unhedged rates high; hedged, pieced-together, or internally inconsistent statements rate lower. It does not measure whether the claim is true. Status is Contested when two claims on this page negate each other; otherwise it counts the distinct outlets we found asserting it — so a single-source claim can still show high confidence, and a multi-source claim can show medium. Every one of those outlets is named beside the status, so you can check the count against the list. For claims extracted before we began storing that list, the row says so: it names the outlet the claim is quoted from and states that we have not recorded which outlets backed it. Outlets wrote at different times, so a figure that evolves — a casualty count, for example — can legitimately differ between rows; check the "as of" time next to each claim's source.

Claim	Confidence	Status
ClaimThe Nifty 50 declined 0.47% during the week.	ConfidenceHigh	StatusContested via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimThe Nifty 50 closed the week at 24,252.	ConfidenceHigh	StatusContested via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimThe Nifty 50 gained 20 points on Friday.	ConfidenceHigh	StatusContested via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimNifty Midcap 100 and Nifty Smallcap 100 indices rose 0.10% and 0.69% respectively on Friday.	ConfidenceHigh	StatusSingle-source via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimPower Grid, HDFC Life and Nestlé were the top gainers among Nifty 50 constituents on Friday.	ConfidenceHigh	StatusSingle-source via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimTrent, Maruti Suzuki and IndiGo were the major losers among Nifty 50 constituents on Friday.	ConfidenceHigh	StatusSingle-source via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimMetals, Private Banks and Realty indices ended higher, while Auto, Media and IT were among the biggest losers on Friday.	ConfidenceHigh	StatusSingle-source via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimNifty gained 20 points on Friday, closing higher for the second consecutive session.	ConfidenceHigh	StatusContested via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimThe Nifty index opened 53 points higher on Friday but remained range-bound.	ConfidenceHigh	StatusContested via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimHDFC Securities' Nagaraj Shetti said the Nifty's underlying trend remains positive and the index could move towards 24,500-24,600 next week.	ConfidenceHigh	StatusContested via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimHDFC Securities' Nagaraj Shetti sees 24,200 as immediate support for the Nifty.	ConfidenceHigh	StatusContested via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC
ClaimThe Nifty has sustained above its 20-day and 100-day EMAs.	ConfidenceHigh	StatusSingle-source via Moneycontrol as of Aug 30, 2026, 8:30 AM UTC

Transparency & Audit Trail

2 distinct · 2 mastheads · 4 articles consulted: CNBC TV18, Moneycontrol 12 claims extracted Version 1 Written 2026-08-30