West Asia war: Indian stock markets remain depressed
New Delhi, Mar 27: With the uncertainty on the energy front continuing globally, Indian benchmark indices declined for the 5th consecutive week today, marking the longest losing streak in around eight months.
Reflecting an adverse impact on the investor sentiment, BSE Sensex dropped 2.25 per cent to 73,583.22 while Nifty 50 slid 2.09 per cent to 22,819.60.
For this week, both the indices dropped about 1.3 per cent.
Since the start of the Iran war on February 28, the Nifty and Sensex have fallen nearly 9.5 per cent each and the market has witnessed volatility.
Broader markets also continue to be under pressure. Small-cap stocks fell 0.6 per cent and mid-cap stocks declined 1.4 per cent over the week.
As crude oil prices remained above USD 100 per barrel, India’s economic and earnings outlook have dampened, triggering record monthly foreign outflows of $12.14 billion.
The Rupee continued to weaken, settling at a record low of 94.8125 against the US dollar.
Reflecting the deteriorating outlook, Goldman Sachs has cut India’s 2026 growth forecast to 5.9 per cent from 7 per cent and downgraded Indian equities to “market weight” from “overweight”.
The global uncertainty in respect of energy continues even after US President Donald Trump last night announced a further “pause” strikes on Iran’s energy installations for 10 days.
He has also offered a 15-point proposal to end the conflict but Iran has rejected it, calling it “unfair”.
