Ahead of Market: 10 key factors that will drive stock market action on Monday

Market Overview - India's benchmark indices, the Nifty and BSE Sensex, ended sharply lower amid broad-based selling pressure, with the Nifty falling 317.90 points (1.25%) to close at 25,178.65 and the Sensex tumbling 961.42 points (1.17%) to settle at 81,287.19 [1][12] - The volatility gauge, India VIX, ended at 13.70, up 4.89% from the last closing [2][12] Technical Analysis - Analysts noted that the Nifty has declined sharply after remaining below its key short-term moving average for three consecutive sessions and has slipped beneath the 200-day moving average (DMA), indicating that the prevailing weakness could persist [3][7] - Immediate support levels are identified at 25,000 and 24,750, while resistance is seen at 25,370 [4][8] - The RSI indicator has turned sharply bearish, suggesting that the index may continue to face selling pressure in the short term [4][8] Stock Performance - Among the most active stocks in terms of turnover were Tejas Networks (Rs 551 crore), Redington (Rs 275 crore), and Cholamandalam Financial Holdings (Rs 262 crore) [9][12] - In terms of volume, SpiceJet led with 7.17 crore traded shares, followed by Vishal Mega Mart (1.34 crore) and Tejas Networks (1.32 crore) [9][13] - Stocks showing strong buying interest included Xtglobal Infotech, Tejas Networks, and Sarda Energy & Minerals [9][13] Market Breadth - On the market breadth front, 100 stocks reached their 52-week highs, while 340 stocks fell to their 52-week lows [10][13] - Heavyweights like ICICI Bank, HDFC Bank, and Bharti Airtel contributed to the negative sentiment in the overall markets, with 1,574 stocks advancing, 2,633 declining, and 162 remaining unchanged out of 4,369 stocks traded [11][13]