Indian stock markets end eight-week losing streak amid global headwinds

Indian equity markets have concluded an eight-week losing streak, marking the longest consecutive weekly decline in 25 years. The benchmark Nifty fell over 3 percent and the Sensex dropped approximately 1,670 points during the recent period, with the Sensex closing at 71,909.70.

Analysts attribute the downturn to several global and domestic headwinds, including heavy selling by foreign institutional investors (FIIs), rising crude oil prices, elevated US bond yields, and a strengthening US dollar. FIIs have significantly increased outflows, with year-to-date outflows exceeding Rs 2.5 lakh crore.

Despite the bearish trend, some technical analysts suggest a potential short-term relief rally. Key support levels for the Sensex are identified between 71,000 and 71,200, while the Nifty may target 22,800. However, experts warn that a sustained recovery remains dependent on stabilizing oil prices and US yields rather than domestic demand alone.