The Indian stock market closed the week on a weak note, extending its five-week losing streak as rising crude oil prices, a depreciating rupee, and escalating Middle East tensions dampened investor sentiment.
Analysts said these global factors will likely remain key drivers of market movement in the coming week.
On Friday, both benchmark indices recorded sharp declines. The Sensex fell 1,690 points, or 2.25 per cent, to close at 73,583, while the Nifty dropped 487 points, or 2.09 per cent, settling at 22,819.60.
Experts cautioned that a decisive break below the 22,700–22,500 range could accelerate selling, potentially dragging the Nifty toward 22,000–21,744, near its 52-week low. On the upside, immediate resistance lies at 23,000–23,100, followed by a stronger supply zone at 23,300–23,500.
The broader markets also remained under pressure, with midcap and smallcap indices ending lower.
Brent crude surged above $112 per barrel, intensifying concerns for India’s import-dependent economy, fuelling inflation and widening the trade deficit.
Meanwhile, the rupee slipped past the 94 mark against the US dollar, adding further stress.
Safe-haven demand lifted gold and silver prices, which rose over 3 per cent on Friday, reflecting investor caution amid global uncertainty.
Analysts noted that rising oil prices and ongoing geopolitical tensions in the Middle East continue to influence market sentiment.
These developments also indicate that Dalal Street may experience continued volatility in the coming week.
Investors are advised to monitor crude oil movements, currency fluctuations, and global developments closely.
The market’s performance highlights the interplay between global events and domestic economic conditions, underscoring the importance of strategic decision-making and cautious participation in equities amid uncertain times.
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