Indian Equity Market Faces Fourth Consecutive Weekly Decline Amid Rising Crude Oil Prices

The Indian equity market is bracing for another week of losses as global cues continue to weigh on investor sentiment. The Nifty 50 index declined by 1.15% last week, closing at 23,897.70, while the Sensex fell nearly 1% to settle at 76,515.43.

This is the fourth consecutive weekly decline for both benchmark indices, highlighting the impact of global events on the domestic market. Ajit Mishra, SVP of Research at Religare Broking Ltd, attributed the losses to renewed geopolitical tensions and a sharp rise in crude oil prices.

Brent crude saw an 8% gain during the week, breaching $95 per barrel as US-Iran tensions intensified concerns over energy supply disruptions through the Strait of Hormuz. Mishra warned that the coming week will remain sensitive to global monetary policy, crude oil prices, and geopolitical developments.

Investors will closely monitor the impact of strong US employment data on Federal Reserve policy expectations, with any renewed increase in bond yields or the US dollar potentially putting additional pressure on emerging markets, said Mishra.