Nifty Extends Losing Streak to Four Weeks Amid Crude Oil Price Surge

Indian equities remained under pressure throughout the week, extending their losing streak to four weeks due to surging crude oil prices and escalating U.S.-Iran hostilities.

The Nifty index closed at 23,897.70 on Friday, gaining 0.10% but still posting a weekly decline of around 1.2%. The Sensex followed suit, ending the week at 76,515.43 with a gain of 362.57 points or 0.48%

The biggest concern for Indian equities was crude oil prices, which rose over 8% during the week, driven by renewed U.S.-Iran tensions and concerns over possible disruptions in the Strait of Hormuz.

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