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Nifty 50 dips nearly 3.1% amid Fed rate outlook and geopolitical risk
The week saw most sectors fall between 2% and 6%, as US Iran tensions and higher crude oil prices weighed on sentiment.
LiveMint Markets reports that Indian equity benchmarks ended the week sharply lower, with the Nifty 50 falling nearly 3.1% to close at 22,421 and the Bank Nifty down 2.0% to finish at 54,450.
The report said most major sectors posted declines ranging from 2% to 6% for the week, while geopolitical uncertainties stayed elevated, including ongoing US Iran tensions and broader developments in the Middle East.
LiveMint Markets also cited rising crude oil prices and higher global bond yields as additional pressure, raising concerns over inflation, liquidity, and overall market sentiment.
Anand Rathi analyst Ganesh Dongre said the Nifty has moved into an oversold zone after the recent sharp selloff, pointing to strong resistance in the 23,500 to 23,600 area tied to the broader 200 day EMA resistance zone.
Latest closeWTI crude $91.26 ▼1.7%