Indian Markets Extend Losing Streak Amid Oil Price Surge

The Indian equity markets continued their downward trend for a fourth consecutive week due to rising crude oil prices and escalating tensions between the US and Iran.

The Nifty index closed at 23,897.70, with a weekly decline of around 1.2 percent, despite a small gain on Friday.

Brent crude rose more than 8 percent during the week, while WTI crude gained over 9 percent due to concerns over possible disruptions in global energy markets.

Despite encouraging domestic economic indicators, including a 7.8 percent growth rate in the first quarter of FY27 and strong GST collections, investors remained focused on the potential impact of higher crude prices on inflation and corporate profitability.