The two-week losing streak of Indian stock markets is attributed to escalating West Asia conflict and the consequential increase in crude oil prices. The decline resulted in a significant drop in various indices, and investors' wealth also decreased.
Over the past two weeks, the benchmark domestic indices have suffered a losing streak due to a combination of factors. One of the primary contributors is the escalating West Asia conflict, which has led to a surge in crude oil prices.
The conflict's impact was evident on the 30-share Sensex at the Bombay Stock Exchange, which declined by 1,605 points, or 2.14 percent, closing at 73,124.
Similarly, the National Stock Exchange Nifty 50 lost 546 points, or 2.35 percent, ending at 22,600.
The sell-off was not confined to large-cap stocks as mid-cap and small-cap indices experienced sharper declines due to investors reducing their exposure amid rising uncertainty.
In the broader market at the National Stock Exchange, the Midcap 100 index shed 5.6 percent, while the Nifty Smallcap 100 index tanked more than 7 percent.
Across sectors, IT was the lone pocket of resilience, recovering from early selling to end the week largely unchanged on improving earnings visibility and renewed investor appetite.
Among the major laggards, Nifty Defence index plunged seven per cent, followed by the Nifty Consumer Durables index, which fell 6.4 percent.
Investors’ wealth eroded this week, with the total market capitalization of BSE listed companies declining by nearly 21 lakh crore rupees.
Source:
Akashvani News
