Indian Markets Reel Under Pressure from Crude Oil and Global Rates

Indian equity markets continued their losing streak for the fifth consecutive week as rising crude oil prices and concerns over global interest rates kept Dalal Street under pressure.

The Nifty 50 declined 2.09% during the week to finish at 23,398, while the Sensex lost 2.27% to settle at 74,781.76.

Crude oil prices emerged as a major concern after escalating tensions around the Strait of Hormuz and threats to shipments in the Red Sea raised supply worries. WTI crude jumped more than 9.5% during the week to cross $104 per barrel, while Brent crude advanced over 8.5%.

For India, expensive oil could increase inflationary pressure, push up corporate input costs, and weigh on margins.

The broader market also weakened, with the Nifty Midcap 100 falling 1.40% and the Nifty Smallcap 100 declining 0.94%.