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The US ISM manufacturing PMI, released on Friday, rose to a nine-month high of 49.3 in December, from 48.4 in November, and topped the estimate of 48.20.

One of the reasons could be that a number of companies have opted for a price hike in the December quarter due to rising costs of input items such as copra, vegetable oil, and palm oil.

"FPIs are likely to continue selling as long as the dollar remains strong and US bond yields offer attractive returns. The dollar index at around 109 and the 10-year bond yield above 4.5 per cent are significant deterrents to FPI flows," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

​With the current market scenario, analyst Rahul Ghose, Founder of Hedged.in interacted with ET Markets regarding the outlook on Nifty and Bank Nifty and an index strategy for the upcoming week. Following are the edited excerpts from his chat:

The market capitalisation (mcap) of TCS tanked Rs 24,856.26 crore to Rs 14,83,144.53 crore and that of State Bank of India declined Rs 5,399.39 crore to Rs 7,08,168.60 crore.

Experts predict the primary market fundraising in 2025 could exceed Rs 2 lakh crore. Currently, 100 companies have filed draft offer letters with SEBI, with some already approved and others awaiting clearance. This signals a strong start for the year, indicating robust activity and investor interest in the upcoming IPOs.

We believe that if Nifty crosses the 24,000-24,050 range in the coming week, a potential rally could push it to levels of 24,200-24,250 as part of this pullback. At this point, we are maintaining our long position with a stop loss at 24,800, which is a key level to watch for Nifty, says Rajesh Palviya, Axis Securities.

The Nifty 50 ended 2024 with over 8% annual returns and is projected to reach 26,500 by March 2026, signaling a 10% upside. Antique Stock Broking attributes this to rising consumption, growth in mid and small caps, and a revival in capital expenditure.

Auto sales numbers led to buying activity in auto shares last week, resulting in a 0.8% gain for Nifty and a 0.6% fall for Bank Nifty. Most sectoral indices closed positively. Analysts discuss market trends, outlook and index strategies. Notable movements in derivative segments and financial markets were also highlighted. Mixed activity reported for sectors like IT.