Indian equities ended the week in the red, hammered by a perfect storm of geopolitical flare-ups in the Middle East, skyrocketing oil costs, and heavy dumping in technology shares. The BSE Sensex lost 2.3 percent, and NSE Nifty 50 declined 1.9 percent, marking a stark reversal from recent gains.
Broader markets held up better, as midcaps fell only 0.6 percent and smallcaps 0.2 percent. FIIs were net sellers to the tune of 1,369 crore rupees, while DIIs stepped in aggressively, buying 9,782 crore rupees worth of equities.
IT emerged as the biggest loser, down around 10 percent on fears of disappointing Q4 earnings for FY26, even as Infosys and TCS delivered respectable numbers. FMCG stocks bucked the trend with robust double-digit gains, and banking-financial services remained anchored by sound asset quality.
Market watchers highlighted choppy trading all week, triggered by US-Iran standoffs and Hormuz Strait blockages. Oil prices surged to $107/barrel after a 15 percent jump, exacerbated by Iran’s short-lived reopening followed by renewed US-led curbs. Trump’s indefinite ceasefire extension with Iran deepened the uncertainty.
Friday’s bloodbath saw Sensex dive 1,260 points intraday to 76,403.87 before settling 999.79 points lower at 76,664.21. Nifty mirrored the pain, sliding to 23,813.65 before closing 275.10 points down at 23,897.95.
Investor caution prevailed due to elevated oil prices and election-related worries, confining trade to bearish confines. FII outflows weighed heavily, partially offset by DII support.
Next week brings critical data: India’s IIP for March, global PMIs, US PCE inflation, and policy decisions from major central banks. With eyes on these cues, the market braces for more volatility while betting on domestic resilience to navigate external shocks.
