Indian Equities Dip Amid Rising Crude Oil Prices and Global Interest Rate Concerns

Indian equity benchmarks, including Nifty and Sensex, have posted notable losses for the fifth consecutive week due to rising crude oil prices and concerns over global interest rates.

The Nifty declined by 2.09% during the week, with a 0.34% loss on the last trading day, reaching 23,398 at close. The Sensex dropped 120 points or 0.16%, landing at 74,781, with a weekly loss of 2.27%.

Analysts pointed out that global macro developments weighed heavily on investor sentiment, with a firmer US inflation backdrop and rising Treasury yields leading to expectations of a higher-for-longer rate environment and tightening global financial conditions.

The sell-off was broad-based, with major sectors ending lower during the week. Nifty Realty emerged as the biggest loser on NSE, down 6.54% on a weekly basis, while the Nifty IT index shed around 5.78%.