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Indian stocks extend weekly correction as global rates, geopolitics loom
The Nifty ended the week at 24,175.65 and the Sensex at 77,264.51, both weaker for the third straight week, as traders weighed interest-rate trends and energy risks tied to Middle East supply disruptions.
Indian equities closed the week on a cautious note, extending an ongoing correction amid concerns about global interest-rate trends, geopolitical developments and added volatility tied to the new Closing Auction Session, LiveMint Markets reported.
On a weekly basis, the Nifty slipped about 0.31% to 24,175.65, while the Sensex fell nearly 0.36% to settle at 77,264.51, with both benchmarks remaining in the red for a third straight week despite a Friday rebound powered by heavy buying in IT stocks after positive global technology cues.
LiveMint Markets also pointed to broader market resilience, with Midcap and Smallcap indices advancing roughly 0.52% and 0.51% on the week.
Enrich Money CEO Ponmudi R said the coming weeks are likely to be driven by global monetary-policy expectations, crude oil moves and developments around the Strait of Hormuz, noting that improving shipping flows could reduce the crude oil geopolitical premium, while renewed disruptions could quickly reverse that effect. The outlet added that traders are looking ahead to the August jobs report due September 4 and the next inflation reading, and also flagged first-quarter GDP data as a domestic factor for risk sentiment, with Religare Broking’s Ajit Mishra recommending a selective approach focused on companies with strong earnings visibility and healthy balance sheets.
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