Indian equity benchmarks extended their losing streak to a seventh straight week on Friday, marking their longest run of weekly declines since 2020, as elevated global yields, higher crude oil prices and persistent foreign fund outflows continued to weigh on market sentiment.
The NSE Nifty50 index ended the week at 23,140.50, down 205.90 points, or 0.88 per cent, from its previous weekly close of 23,346.40. The 30-share BSE Sensex pack settled at 73,895.74, falling 399.22 points, or 0.53 per cent, from the previous week's close of 74,294.96.
Among Nifty stocks, Bharti Airtel Ltd was the biggest weekly loser, declining 5.70 per cent. Trent Ltd fell 5.48 per cent, Infosys Ltd declined 4.87 per cent, Bajaj Finserv Ltd slipped 4.40 per cent and Tata Motors Passenger Vehicles Ltd (TMPV) fell 4.39 per cent.
Bajaj Finance Ltd, HDFC Life Insurance Company Ltd and Adani Enterprises Ltd also ended lower, falling 3.43 per cent, 4.17 per cent and 3.08 per cent, respectively.
On the other hand, Coal India Ltd topped the weekly gainers, rising 3.95 per cent. ITC Ltd, Eternal Ltd, Titan Company Ltd and Dr Reddy's Laboratories Ltd gained between 1.35 per cent and 2.55 per cent.
Domestic benchmarks, however, ended higher on Friday, with Sensex rising 315.20 points or 0.43 per cent, and Nifty gaining 77.40 points or 0.34 per cent for the day. Realty, auto and FMCG stocks were among the top sectoral gainers, while IT remained subdued. The midcap and smallcap indices ended largely unchanged.
Ajit Mishra, SVP (Research) at Religare Broking, said, "The recovery remained measured as investors continued to monitor elevated global yields, crude oil prices and persistent foreign selling. Besides, oversold positions in heavyweights across sectors provided some support and helped limit further downside."
Vinod Nair, Head of Research at Geojit Investments, said, "Volatile crude and bond yields at elevated levels kept the market recovery capped. Concerns over inflation, foreign fund outflows and pressure on EM currencies remained intact. Selective bargain hunting after the recent pullback helped the market retain a positive bias, though gains remained confined to a narrow trading range. While elevated oil prices and global yields may continue to temper risk appetite in the near term, improving valuations and resilient domestic growth prospects are encouraging selective accumulation, helping the market absorb external pressures more effectively."
According to Ponmudi R, CEO of Enrich Money, "Overall, the tone remains cautious, with today's session looking more like a pause after a sharp decline than a genuine turnaround. Elevated US yields continue to weigh on sentiment, while hopes of easing geopolitical tensions and consistent DII buying offer only partial reassurance."
From a technical perspective, Religare Broking's Mishra said Nifty held above the 23,000 psychological support and recovered from the day's lower levels, although the broader structure remains weak following Thursday's breakdown.
"The 23,300–23,350 zone is likely to act as the immediate hurdle, followed by the broader resistance around 23,600, while 23,000 remains the key near-term support. With the trend still weak and global macro risks elevated, volatility is likely to remain high, and stock-specific opportunities may continue to emerge selectively," he said.