Sensex Finishes Week Lower
India’s BSE Sensex closed about 0.2% down at 73,124 on Friday, its lowest since mid-October, marking the fourth straight session of losses. Market sentiment continued to be dominated by concerns over rising oil prices, geopolitical tensions and uncertainty regarding future developments. Elevated oil prices pose risks to India’s import bill, inflation outlook, and corporate margins. Adding to the pressure, foreign institutional investors sold Indian equities worth 3.46 billion rupees on October 22. Meanwhile, flash PMI data showed Indian private sector growth accelerated to a four-month high in October. Selling remained widespread across sectors, with metal and consumer durables stocks among the biggest laggards.
India’s BSE Sensex closed about 0.2% down at 73,124 on Friday, its lowest since mid-October, marking the fourth straight session of losses. Market sentiment continued to be dominated by concerns over rising oil prices, geopolitical tensions and uncertainty regarding future developments. Elevated oil prices pose risks to India’s import bill, inflation outlook, and corporate margins. Adding to the pressure, foreign institutional investors sold Indian equities worth 3.46 billion rupees on October 22.
Meanwhile, flash PMI data showed Indian private sector growth accelerated to a four-month high in October. Selling remained widespread across sectors, with metal and consumer durables stocks among the biggest laggards.