Nifty and Sensex Post Their Worst Week in Months as Crude Oil Crosses 100 Dollars
Indian benchmark indices fell in every single session this week, with the Nifty and Sensex logging their sharpest weekly decline in months as rising crude oil prices and steady foreign selling weighed on sentiment.
The Nifty closed the week at 23,767, down 2.33 per cent, and the Sensex closed at 76,060, down 2.68 per cent, falling in all five sessions as Brent crude briefly crossed 100 dollars a barrel.
Costlier oil raises India's import bill and inflation risk, and combined with foreign selling and higher global bond yields, this pressured banking and real estate stocks, while FMCG and auto held up on strong earnings.
This is a week to understand how oil, the rupee and interest-rate expectations move together, not to act on. Review your asset allocation calmly rather than reacting to one volatile week.
