Commodities
Indian Equity Markets Fall for Seventh Consecutive Week Amid Oil Price Hikes
The Indian equity markets extended their losing streak to seven consecutive weeks due to rising crude oil prices and increasing foreign institutional selling.
Brent crude remained above $105 a barrel for most of the week, while West Texas Intermediate (WTI) crude stayed above $90 a barrel amid geopolitical uncertainty and concerns over global oil supplies.
The markets came under heavy selling pressure during the middle of the week, with benchmark indices falling more than 1.6% on Thursday.
However, there was a modest recovery on Friday, supported by value buying, which saw the Sensex end the day 315 points higher at 73,895, although it declined 0.54% over the week.