Indian shares post longest weekly losing streak in six years on oil, rate worries
Indian shares posted a sixth straight weekly decline on Friday, their longest losing streak since 2020, as crude prices above $100 per barrel driven by Mideast tensions and tighter global monetary policy weighed. On the day, the Nifty 50 rose 0.33% to 23,346.40, while the Sensex shed 0.03% to 74,294.96. A drop in oil prices, bargain buying after recent losses outweighed declines in IT and Tata…
Indian equities suffered their longest weekly losing streak in six years on Friday, as oil prices soared above $100 per barrel amid Gulf tensions and tighter monetary policy. The Nifty 50 index rose slightly, while the broader Sensex declined. Despite bargain buying following recent losses, IT and Tata Group stocks continued to drag the markets lower.
Liquidity drained from the secondary market as investors turned to domestic IPOs. Research suggests foreign investors remain hesitant due to heightened Middle East tensions and persistently high U.S. interest rates. Despite the week's decline, sectors like insurance showed resilience, with gains driven by positive growth expectations and improved transparency.
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