Indian Stock Market Weakens Amid Elevated Crude Oil Prices and Rising Bond Yields

The Indian stock market ended last week on a weak note due to elevated crude oil prices and rising global bond yields. The Sensex declined by 0.65% to close at 74,294.46, while the Nifty slipped 0.22% to end at 23,346.40.

The broader market indices remained largely flat after a volatile week, following several weeks of outperformance. Benchmark indices Sensex and Nifty ended on a mixed note as gains from softer crude oil prices were offset by weakness in IT stocks and Tata Group counters.

According to Sachin Gupta, VP, Technical Research at Choice Equity Broking Private Limited, the Sensex is likely to maintain a sideways outlook with the 73,500-73,700 zone acting as the broader support area. Sustained buying above 74,600 could support a recovery towards 74,800-75,000.

The US-Iran war and US tariffs remain key market drivers globally, while crude oil prices have still climbed more than 5% since a drone attack launched from Iraq damaged the Saudi pipeline last Thursday. The Dow Jones Industrial Average fell by 0.18%, to 51,682.64, while the S&P 500 rose by 0.17%, to 7,650.50.

The Taiwan Stock Exchange Capitalization Weighted Index (TAIEX) ended the session at its high of 47,180.75, rising 892.75 points, or 1.93%. The total market capitalisation of listed companies stood at NT$154.3 trillion.