Indian markets fall for fifth week as Nifty, Sensex slide amid global tensions
Hyderabad: Indian markets extended losses for a fifth consecutive week as Nifty and Sensex declined sharply amid global uncertainty, rising crude prices and sustained foreign outflows. The Indian markets remained volatile throughout the week.
Nifty slipped 1.28 per cent for the week and fell 2.09 per cent on the final trading day to close at 22,819. Meanwhile, Sensex dropped 1,690 points or 2.25 per cent to settle at 73,583.
Both indices faced consistent pressure despite intermittent recoveries. Moreover, weak global cues and selling by foreign investors weighed on sentiment.
Indian markets remain under pressure from global risks
Bank Nifty underperformed the broader indices and ended near 52,274, down 2.67 per cent on Friday. In addition, it recorded a weekly loss of about 2.16 per cent.
Geopolitical tensions surrounding the US–Iran situation continued to drive market volatility. Furthermore, concerns over energy supply disruptions kept crude prices elevated in the $98–$115 range.
Sector-wise, metal and PSU bank stocks emerged as major losers. However, IT and pharma sectors showed resilience and posted marginal gains.
Broader indices moved in line with benchmark indices. Meanwhile, Nifty Midcap100 declined 1.38 per cent and Nifty Smallcap100 fell 0.63 per cent.
The Indian rupee weakened past the 94 mark against the US dollar. Consequently, pressure from crude prices and capital outflows intensified.
Foreign institutional investors continued heavy selling during the week. In addition, net outflows ranged between ₹25,000 crore and ₹30,000 crore, while March outflows crossed ₹1.13 lakh crore.
Domestic institutional investors provided support by buying over ₹25,000 crore worth of equities. However, selling pressure persisted.
Market experts said Nifty is attempting to stabilise in the 22,850–22,750 range. Moreover, immediate resistance lies between 23,000 and 23,100 levels.
For Bank Nifty, immediate support stands between 52,000 and 51,800 levels. On the upside, resistance is seen around 53,000–53,600.
Analysts expect markets to remain range-bound in the near term. Meanwhile, any easing in global tensions could trigger recovery, while high oil prices may continue to weigh on sentiment.