On Friday, Nifty ended the week with a fall of 2.09%, adding up to its fifth straight weekly loss. Brent crude climbed above $109 a barrel amid ongoing tensions in the Middle East, pressuring risk appetite. The Sensex dropped 1,734 points to close at 74,781. Investors fretted over expensive oil and global interest rates. Those concerns weighed heavily on share prices. Nifty dropped under a key support level. Analysts warned there could be more pain ahead. The latest drop added to a rough spell for Indian stocks. Reuters reported the decline. High oil costs and rate worries still hang over the market. Traders expect no quick relief.
Sources & References
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Sensex Plunges 1,734 Points to 74,781 as Brent Tops $109, Nifty Falls 2.09% in Fifth Straight Weekly Loss - HDFC Sky
Sensex Plunges 1,734 Points to 74,781 as Brent Tops $109, Nifty Falls 2.09% in Fifth Straight Weekly Loss HDFC Sky
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Nifty 50 in danger zone? Here's where the index could head next - Check key levels - tradingview.com
Nifty 50 in danger zone? Here's where the index could head next - Check key levels tradingview.com
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Sensex, Nifty Fall As Middle East Tensions, Elevated Crude Weigh - BW Businessworld
Sensex, Nifty Fall As Middle East Tensions, Elevated Crude Weigh BW Businessworld
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F&O Talk: Nifty has slipped below its crucial support, says Sudeep Shah; picks 5 stocks for next week - economictimes.com
F&O Talk: Nifty has slipped below its crucial support, says Sudeep Shah; picks 5 stocks for next week economictimes.com
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Nifty, Sensex dip nearly 2 pc this week over oil prices, global interest rates - DT Next
Nifty, Sensex dip nearly 2 pc this week over oil prices, global interest rates DT Next