Mumbai: The benchmark equity indices are expected to remain under pressure in the coming week, with the Sensex likely to face immediate resistance around the 76,300 mark and the Nifty expected to find crucial support near 23,600, according to market analysts.

The outlook comes after both benchmark indices extended losses during a volatile trading week driven by rising crude oil prices, geopolitical tensions and weak banking stocks.

Sensex, Nifty Key Levels to Watch

According to analysts, the Sensex erased the gains made in the previous week and slipped below the psychologically important 77,000 level as geopolitical concerns and mixed corporate earnings weighed on investor sentiment.

Market experts said the 76,300 zone will act as the immediate resistance for the Sensex. On the downside, support is expected in the 75,800-75,700 range, while a breach below these levels could push the index towards 75,500-75,400.

For the Nifty, analysts noted that the index fell below its month-long consolidation range of 23,800-24,400 before testing support near the 23,600 mark and ending the week at 23,767.45.

Volatility Likely to Continue

Experts said a decisive break below 23,600 could trigger further correction towards the previous swing low of 23,100. On the upside, the 24,000-24,100 zone is expected to act as the first resistance, followed by a stronger hurdle near 24,400.

The previous week saw heightened market volatility as investors remained cautious amid rising global crude oil prices, renewed geopolitical tensions and mixed first-quarter earnings from banking companies.

A weakening rupee and a broader risk-off sentiment also weighed on market performance despite resilient domestic macroeconomic indicators and stock-specific opportunities during the ongoing earnings season.

The Sensex declined 2.68 per cent to close at 76,059.77, while the Nifty fell 2.33 per cent to settle at 23,767.45.