Mumbai, March 28: The Indian stock market has experienced a decline for the fifth consecutive week, pressured by escalating geopolitical tensions, high crude oil prices, and persistent selling by foreign investors.
On the last trading day, the market closed down by 2.09 percent at 22,819.60. However, during the week, the Nifty50 recorded a slight gain of 0.52 percent, following a decline in the previous week. Over the past month, the Nifty has fallen by 8.23 percent.
The BSE Sensex also saw a significant drop, closing down 1,690.23 points or 2.25 percent at 73,583.22 on Friday. For the week, it recorded a decline of 1.94 percent, with an overall decrease of 8.29 percent in the last month.
Throughout the week, the market exhibited volatility, with pressure on the index, although there were attempts at recovery. The Nifty Bank underperformed, closing down 2.67 percent at around 52,274 on Friday, marking a weekly decline of approximately 2.16 percent.
The primary pressure on the market stemmed from ongoing tensions between the U.S. and Iran, raising investor concerns and keeping the market reactive to global events.
Globally, worries about energy supply persist, with Brent crude prices fluctuating between $98 and $115 per barrel, contributing to inflation and economic stability concerns.
Sector-wise, Nifty Metal and PSU Bank were the hardest-hit sectors, while Nifty IT and Pharma managed to record gains of 1.17 percent and 0.11 percent, respectively.
Midcap and small-cap indices also faced declines, with Nifty Midcap100 down by 1.38 percent and Nifty Smallcap100 down by 0.63 percent.
During this period, the Indian rupee weakened, surpassing 94 against the dollar, attributed to high crude oil prices and foreign selling.
Experts suggest that until global risks diminish, the market will likely remain within a limited range and continue to experience fluctuations. However, domestic investment and a reduction in tensions could provide some support to the market.
Currently, the Nifty is attempting to stabilize around the 22,850-22,750 levels, with resistance seen at 23,000-23,100. For Bank Nifty, support is crucial at 52,000-51,800, while resistance is noted at 53,000-53,600.
On Friday, foreign institutional investors (FIIs) continued their aggressive selling, withdrawing approximately ₹25,000-30,000 crore during the week. This brings the total for March to over ₹1.13 lakh crore, marking the largest monthly sell-off in the fiscal year 2026.
In contrast, domestic institutional investors (DIIs) showed strong buying interest, investing over ₹25,000 crore during the week, providing some support to the market.
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My name is Narendra Jijhontiya. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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