Stock Market: Nifty, Sensex Fall For Seventh Week On Crude, US Yields And FII Selling

Nifty and Sensex recorded losses for the seventh consecutive week as elevated crude prices, rising US bond yields and intensified foreign institutional selling weighed on Indian equities.

The Nifty declined 0.88 per cent during the week but gained 0.34 per cent on the final trading day to close at 23,140.

The Sensex ended Friday 315 points, or 0.43 per cent, higher at 73,895, but fell 0.54 per cent over the week.

Markets faced heavy selling pressure during the middle of the week, with the benchmarks falling more than 1.6 per cent on Thursday.

Value buying helped the indices recover some losses on Friday.

Brent crude remained above $105 a barrel for most of the week, while WTI crude stayed above $90 amid geopolitical uncertainty and concerns over global oil supplies.

Oil prices, however, eased towards the end of the week, offering some relief to markets.

High crude prices have raised concerns over India’s import bill, inflation, the rupee and corporate input costs.

Analysts pointed to pressure from global bond markets, with the US 10-year Treasury yield moving above 5.10 per cent during the week.

Rising US yields have tightened global financial conditions and may reduce the relative appeal of emerging-market assets.

Foreign institutional selling has intensified in recent weeks, creating another headwind for domestic equities.

Iran’s seven-day proposal to end the conflict and reopen the Strait of Hormuz drew attention.

Analysts pegged Nifty support at 23,000 and resistance at 23,200.

The rupee remained under pressure from crude-linked dollar demand and foreign outflows, with RBI intervention limiting volatility.

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