Nifty 50 broke a four-day fall on Friday, closing at 23,897.70, in a week where India's GDP data, a Middle East escalation and a Fed comment moved the market more than anything else.

The index closed lower every session from Monday through Thursday — 24,080.40, 24,055.80, 23,914.45, 23,873.45 — four closes in a row, each below the one before it. Friday broke the run, up 24.25 points from Thursday. The week's close of 23,897.70 sits 277.95 points, 1.15%, below last Friday's close. Nifty Bank closed the week at 57,369.65, down 126.65 points, 0.22%, from last Friday's close.

India's Ministry of Statistics released Q1 FY27 GDP data on Monday, August 31: real GDP grew 7.8% year-on-year for April-June 2026, against 6.9% in the same quarter last year and a moderation from 8.6% in the prior quarter. Real GDP stood at Rs 81.36 lakh crore against Rs 75.46 lakh crore a year earlier. Real gross value added rose 8.2% to Rs 73.82 lakh crore. Manufacturing grew 9.2%, construction 7.7%, agriculture 3.6%; mining contracted 2.4%. Investment grew 11.9% and private consumption 7.1%. The reading beat the Reserve Bank of India's own 7% projection for the quarter and a Reuters poll of 58 economists that had forecast 7.1%. The next quarterly GDP release, covering July-September 2026, is scheduled for November 30, 2026.

US forces struck Iranian targets on Tuesday after two oil tankers were hit near the Strait of Hormuz. Brent crude closed near $86.80 a barrel on Thursday, August 27, the session before this week began, and closed near $95.52 a barrel on Thursday, September 3, a rise of about 10% across that stretch. The US 10-year Treasury yield closed at 3.89% on Monday and touched 4.818% on Wednesday, its highest level since November 2023.

On Thursday, US Federal Reserve Governor Christopher Waller said he would lean toward holding rates steady at the September 16 meeting if incoming data kept supporting it. The odds of a September rate hike, tracked by CME FedWatch, fell from 63% to near 50% that day. Asian markets carried the relief into Friday — Japan's Nikkei rose 1.15%, Hong Kong's Hang Seng rose 2.10%, South Korea's Kospi rose 1.26%, Shanghai's Composite rose 0.35%.

Foreign institutional investors sold Rs 7,986 crore of Indian equities on Monday, then bought Rs 1,143 crore Tuesday and Rs 6,688 crore Wednesday, before turning sellers again — Rs 2,346 crore Thursday and Rs 3,112 crore Friday. Domestic institutional investors bought on all five sessions: Rs 4,589 crore Monday, Rs 1,847 crore Tuesday, Rs 2,813 crore Wednesday, Rs 4,977 crore Thursday, and Rs 8,930 crore Friday, ending the week at the highest single-day figure of the five. August's full-month FII figure was net buying of Rs 30,919 crore, the second straight month of FII inflows after Rs 20,200 crore in July.

IT, FMCG and auto sector indices led the four-day slide through Thursday; the banking sector index held up better across those same sessions. India VIX closed at 10.68 on Friday.

The US jobs report for August, released Friday evening India time after the local market had shut, showed nonfarm payrolls up 162,000 against a forecast of 53,000, the largest beat of the year so far.

Next week's calendar: US CPI for August releases Friday, 11-September, at 8:30am ET. India's CPI and IIP for August are due around 12-September from the Ministry of Statistics. The US Federal Reserve's rate decision is scheduled for 16-September. The Strait of Hormuz situation remains open, with no scheduled resolution date.

Nifty 50 against seven horizons: up against the quarter (+2.27%), five years (+37.95%) and ten years (+167.22%); down against the week (-1.15%), the month (-2.95%), a year ago (-3.38%) and two years ago (-5.16%).

Nifty Bank against seven horizons: up against the quarter (+5.27%), a year ago (+6.09%), two years ago (+11.61%), five years (+56.06%) and ten years (+180.86%); down against the week (-0.22%) and the month (-0.64%).

This is not a forecast. It is what the closing price already did, at seven different distances, on the same day.