22 August,2026 03:57 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic equity benchmark indices declined this week amid elevated crude oil prices due to global uncertainties, which dented investor sentiment.
The market benchmark indices registered losses on three days this week and remained flat on Friday as global crude oil prices hovered near USD 94 per barrel.
"In the last week, the benchmark indices experienced volatile activity. On a weekly basis, the Nifty ended 0.47 percent lower, while the Sensex declined by 460 points," Amol Athawale, VP Technical Research, Kotak Securities said.
On Friday, the 30-share BSE Sensex gained just 3.11 points to end at 77,540.83, while the 50-share NSE Nifty climbed 20.15 points, or 0.08 per cent, at 24,252. During the week, the Sensex declined 468.42 points or 0.60 per cent, while the Nifty slipped 114 points or 0.47 per cent.
"Benchmark indices traded in a range with corrective bias for the second week in a row as elevated crude oil prices above USD 92 and continued tensions between the US and Iran remain key concerns for the market. Nifty started the week on a negative note and formed an intra-week low of 24,026 on Wednesday session. However, pullback in the last two sessions of the week saw the index closing off the lows at 24,252 levels down by 0.5 per cent," Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking said.
On Thursday, the Sensex that had declined for four days, reversed the trend and surged 628.04 points, or 0.82 per cent, to settle at 77,537.72, while the Nifty snapped its seven day losses to soar 153.55 points, or 0.64 per cent to end at 24,231.85.
During the week, broader market relatively outperformed with Nifty Midcap 100 index closing the week on a flat note. While the Nifty small cap 100 index outperformed and formed a fresh all time high to close the week higher by more than 1 per cent, noted Mukherjee.
According to Vinod Nair, Head of Research, Geojit Investments, the investor sentiment stayed defensive through much of the week as crude oil pushed past the psychologically important ninety-dollar mark, reviving imported-inflation worries.
"This backdrop triggered a sharp mid-week dip ahead of US FOMC (Federal Open Market Committee) minutes, Markets, however, clawed back losses towards the close, drawing support from value buying in financials and the underlying resilience of domestic fundamentals," he noted.
"Sectorally, investors rotated into realty, metals and private banks, drawn by firm commodity prices, healthy credit growth and reasonable valuations after the recent correction, while stepping away from IT and FMCG amid concerns over global technology spending and rising input costs," Nair added.
According to Athawale, from a technical standpoint, the short-term market outlook remains weak.
"Indian equities could remain sideways with a marginal recovery expected next week after last two weeks of fall. Monsoon progression, FII flows, crude oil prices and broader macroeconomic developments will remain key monitorables, while sector-specific opportunities are likely to drive broader market action," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
Foreign Institutional Investors (FIIs) ended the week under review as net sellers of Rs 1,602 crore, while Domestic Institutional Investors (DIIs) were net buyers on each of the five trading days, deploying Rs 17,320 crore in the Indian equity market.
Brent crude, the global oil benchmark, was up 0.65 per cent at USD 94.39 per barrel.
Looking ahead, upcoming US inflation and GDP data will be key monitorable for the global rate trajectory, Nair said.
