Mumbai: India’s benchmark Nifty 50 has extended its decline for an eighth straight week, marking its longest weekly losing streak in 25 years as foreign selling, high US bond yields and geopolitical tensions continue to hurt sentiment.
The index has lost more than 2,149 points, or around 8.7 percent, over the past nine weeks. It has fallen more than 3 percent this week alone.
Nifty Down 15 percent From Record High
The Nifty is now around 15 percent below its all-time high of 26,373, touched in January. A fall of 20 percent from the peak is commonly considered the start of a bear market.
The current eight-week losing streak is the longest since 2001, when the index fell for nine consecutive weeks. Its longest-ever losing run was 10 weeks in 1993.
September was also difficult for investors, with the Nifty falling 6.1 percent, its second consecutive monthly decline.
Foreign investors have withdrawn more than Rs 2.6 lakh crore from Indian equities in calendar 2026. In September alone, FIIs sold Rs 45,536 crore through stock exchanges, while investing Rs 9,676 crore through the primary market.
Key Support Near 22,400
Technical indicators continue to show weakness. Around 81 percent of Nifty 500 stocks are trading below their 50-day simple moving averages, according to ICICI Securities.
The brokerage sees an important support area around 22,400, where multiple technical indicators are coming together.
For a meaningful recovery, the Nifty needs to move above 23,080, the previous week’s high. The index has failed to cross this level for seven weeks.
Global Risks Keep Market Under Pressure
The US 10-year Treasury yield remains near 5.3 percent, putting pressure on emerging markets and potentially keeping foreign selling elevated.
Brent crude has eased below USD 100 per barrel to around USD 98, providing some relief. However, oil prices remain sensitive to US-Iran tensions and developments around the Strait of Hormuz.
Despite the market weakness, analysts said India’s underlying economic growth remains resilient, though crude oil, inflation, global yields and geopolitical developments remain key risks.
