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Nifty 50 nears support as foreign outflows and bond yields weigh on India

The Nifty 50 ended at 22,421 and booked an eighth straight weekly losing session, while Sensex fell nearly 2,000 points.

Reported · Written up by our desk · Asia

LiveMint Markets reports that India’s key stock benchmarks were pressured by sharp foreign fund outflows and rising US bond yields, alongside concerns tied to the conflict in the Middle East. Elevated crude oil prices also weighed on sentiment, contributing to a weaker rupee and a broad sell-off in domestic equities, although IT shares held up after a recent correction.

According to LiveMint Markets, the Nifty 50 finished at 22,421, marking a weekly loss for an eighth consecutive session, while the BSE Sensex fell nearly 2,000 points. The Bank Nifty index closed at 54,450 after heavy selling across the week.

LiveMint Markets also states that Sumeet Bagadia, Executive Director at Choice Broking, said market bias has weakened further as the Nifty 50 approaches near-term support at 22,200. He referenced 2008, when the Nifty 50 declined for seven consecutive weeks before a five-week rebound.

Latest closeWTI crude $91.26 ▼1.7%|Sensex 71,909.70 ▼0.8%

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