auto sales in may witnessed a steep fall due to factory closures and regional lockdowns enforced to contain the second wave of the pandemicnew delhi the domestic equity market witnessed a volatile week in which benchmark indices managed to end up with gains both bse sensex and nse nifty gained as much as a percent each thanks to buying in it metal and capital goods countersthe market continued to witness whipsaws this week but remained within range as the broader sentiment showed restraint given the absence of any significant developments across both macros and companyspecific domains advt banking becomes a deciding factor going ahead a follow up move in the coming sessions would definitely push the nifty towards its much awaited milestone of 16000 and may even extend towards 16200 later hence it would be interesting to see how things pan out in the banking space said sameet chavan chief analysttechnical and derivatives angel brokingas far as supports are concerned the immediate levels are placed at 15700 15670 and the base is to be seen at 15450 now till the time the market defends these important supports the short term trend remains bullishdespite concerns around rising headline and core inflation markets have largely remained unfazed while they continued their joyride the commodity space is headed down a different pathfed chairman jerome powells testimony before the us congress month expiry of derivative contracts and reliance industries 44th annual general meeting kept the volatility high across the bourseshere are key factors that may steer the market this weekiip and fiscal deficit dataindia will release its industrial output and fiscal deficit for may in the coming week industrial output is likely to increase on a yearonyear basis on the back of a lower base however economic and industrial activities were affected in most indian states during the second wave of lethal coronavirusindustrial output in india had expanded for the second consecutive month in april 2021 owing to a low base effect because of the covidinduced lockdown that hit economic activities last year advt a higher than expected reading should be taken as positive for the indian rupee while a lower than expected reading should be taken as negativetwo listingsthe week will kick off with listing of two companies secunderabadbased krishna institute of medical science kims and hyderabadbased dodla dairy will make their debut on mondaythe rs 909crore ipo was subscribed 4562 times the company sold its shares in the price band of rs 421428 kims ipo garnered rs 2144 crore from the primary market at a price of rs 815825 per share the issue was subscribed 386 timesjune auto salesafter a sharp slump in may the domestic auto industry is unlikely to see much relief in the near future as most factories especially the ones located in south are operating at limited capacities due to lockdowns and low demandauto sales in may witnessed a steep fall due to factory closures and regional lockdowns enforced to contain the second wave of the pandemic