Mumbai, March 22 (IANS): The domestic markets remained volatile during the week with the expectations and outcome of the US FOMC (Federal Open Market Committee) meeting being the focal point, Joseph Thomas, Head of Research at Emkay Wealth Management, said on Friday.

With the FOMC meeting indicating rate cuts in its announcement, the sentiment improved marginally towards the end of the week.

Going ahead, volatility is expected to be at the forefront as valuation-related concerns still linger. The earnings season will be critical to gauge the actual 'froth' in the markets, Thomas said.

Shilpa Rout, AVP, Derivatives Research, at Prabhudas Lilladher, said the markets witnessed very volatile moves all through the week. The support for Nifty now stands at around 21,700 and the resistance is very strongly placed at around 22,300.

"Until we breach either side of the range, the same kind of volatility might continue," Thomas said.

Deepak Jasani, Head of Retail Research, HDFC Securities, said that Nifty ended on a positive note for the third consecutive session on Friday. At close, Nifty was up 0.39 per cent or 84.8 points at 22,096.75.

The Asian stocks were mixed on Friday, while the European stocks reacted from record highs but were still on path for a ninth straight week of gains, the longest winning streak since 2012, as investors turned more confident in the economy and looked forward to the upcoming rate cuts.

A series of central bank meetings during the week indicated that a turn towards looser policy is on track, Jasani said.

The US equity funds suffered redemptions of about $22 billion in the week through Wednesday -- the biggest since December 2022, according to a note from Bank of America Corp., citing EPFR Global data.