Weekly Market Review: Indian Stock Market Last Week (02 – 06 March 2026)
Market Pulse: The Week in Review 📊 2nd to 6th March
The Indian equity market witnessed a steady retreat as frontline indices faced persistent selling pressure, leading to a notable breach of recent highs. The Nifty 50 closed with a decline of 2.89%, signaling a shift in momentum as the index slipped below key psychological levels. While the selling was consistent throughout the week, the lack of a strong recovery at lower levels suggests that bears currently hold the upper hand, keeping the short-term trend under pressure.
The broader market also displayed weakness, showing significantly more volatility and sharper corrections compared to the main benchmark. The Nifty Midcap 100 shed 2.91%, while the Nifty Smallcap 100 declined by 2.54%. This accelerated pace of selling in the mid and small-cap segments suggests that risk-off sentiment is deepening and starting to impact the broader market more heavily than the blue-chip stocks. Investors appear to be adopting a "wait-and-see" approach, leading to a gradual drying up of speculative interest.
Index Performance Snapshot
A quick review of the major indices shows the weekly market momentum.
1️⃣ Nifty 50
24,450.45 | -728.20 (-2.89%)
The Nifty 50 experienced a highly volatile week. The index closed at 24,450.45, dropping 315.45 points (1.27%) on Friday alone to settle below the critical 24,500 psychological level.
2️⃣ Nifty Midcap 100
57,393.35 | -1,722.25 (-2.91%)
While the decline was significant, the loss of over 1,722 points suggests that profit-booking is intensifying in mid-sized stocks. Traders are clearly shifting to a defensive stance as the index struggles to maintain its upward momentum.
3️⃣ Nifty Smallcap 100
16,498.9 | -430 (-2.54%)
While the slide of 2.54% suggests that profit-booking is intensifying in smaller-sized stocks, the loss of 430 points indicates that traders are shifting to a defensive stance.
Top Gainers (Nifty 500)
These stocks led the charge in the weekly stock market performance.
Top Losers (Nifty 500)
The following stocks faced selling pressure in the stock market weekly performance.
F&O Corner
OI Analysis
Understanding Open Interest (OI) helps gauge weekly market sentiment and potential price movements.
The Open Interest distribution reveals a heavily bearish bias in the current setup.
PCR: 0.69
This indicates that Call writing significantly outpaces Put writing.
Resistance
Massive Call OI buildup at 24,600, acting as a stiff hurdle.
Support
Highest Put OI positioned at 24,000, acting as a major psychological floor.
Max Pain Analysis
The Max Pain Strike is 24,600.00.
With the Nifty trading at 24,450.45, the index is below the Max Pain level.
This indicates that option sellers are under pressure, and resistance levels are shifting closer to the current price.
Volatility Index (India VIX)
India VIX: 19.88 | +6.17 (+45.08%)
Interpretation
The weekly market volatility surged sharply.
A 45% spike in VIX signals a dramatic increase in fear and uncertainty in the stock market.
The rise in volatility suggests wider price swings and expansion in option premiums.
Weekly Market Structure Summary
Major News & Upcoming Events
Major News of the Week
Geopolitical Tensions: Markets remained under pressure as escalating conflict in the Middle East between the US, Israel, and Iran led to widespread risk-off sentiment.
Crude Oil Surge: Brent crude prices surged toward $87/barrel, hitting a one-year high.
FII Selling Spree: Foreign Institutional Investors offloaded ₹15,000 crore in the cash market.
India VIX Spike: Market fear surged sharply with VIX rising 45% for the week.
Corporate Action: Natco Pharma gained attention following CDSCO approval for Semaglutide, while Mazagon Dock surged due to defense sector momentum.
Key Events for the Upcoming Week
Final Weekly Market Outlook
The weekly stock market trend remains bearish as the Nifty has broken below key psychological levels.
Key observations from the stock market weekly analysis:
- Rising volatility (VIX)
- Aggressive FII selling
- Strong Call writing resistance
- Weak midcap and smallcap momentum
Unless the index reclaims 24,600–24,700, the market may remain under pressure in the coming week.
The 24,000 level will act as the next major support zone.
FAQs
1. How did the weekly stock market perform last week?
The Nifty 50 declined 2.89%, closing at 24,450.45.
2. Why did the stock market fall last week?
Key reasons include geopolitical tensions, rising crude oil prices, and heavy FII selling.
3. What does a PCR of 0.69 indicate?
A PCR below 1 signals bearish sentiment, meaning call writers dominate the market.
4. Why did India VIX rise sharply?
The 45% surge in VIX indicates increasing market uncertainty and expected volatility.
5. What are the key levels for next week?
Resistance: 24,600 Support: 24,000
Disclaimer: This report is for informational purposes only and does not constitute financial advice. Please consult your financial advisor before making any investment decisions.
Happy Trading!
The Firstock Team
