Mumbai, October 24, 2026 (Yes Punjab News)
Indian equity markets extended their losses during a holiday-shortened week as rising crude oil prices added to macroeconomic uncertainty, with benchmark indices declining for the fourth consecutive session.
The Nifty 50 fell approximately 2.4 per cent over the week, while the BSE Sensex declined around 2.2 per cent. Selling pressure also intensified in mid-cap and small-cap stocks as investors reduced their exposure amid concerns over valuations and broader market risks.
Analysts said persistent selling had weakened the Nifty 50’s short-term technical outlook, with the index struggling to sustain its earlier recovery. They identified resistance around 22,800, followed by 23,000. For the Sensex, the immediate support zone was placed between 72,500 and 72,600.
Mid-cap and small-cap stocks bore the brunt of the correction as investors unwound leveraged positions. Large-cap stocks held up comparatively better, although the broader market remained under pressure.
Sectoral performance was mixed. Information technology stocks emerged as a relative bright spot, recovering from early selling to finish the week largely unchanged amid improving earnings visibility and renewed investor interest.
Consumer durables, metals and real estate stocks faced heavier selling as concerns over input costs and profit margins resurfaced.
Crude oil remained a major source of uncertainty. Brent futures rose 3.1 per cent on Friday to settle at $116.72 per barrel, their highest level since April 29. US West Texas Intermediate crude gained 3.8 per cent to close at $103.27 per barrel.
For the week, Brent advanced 6.2 per cent, while WTI rose 2 per cent.
Analysts warned that a sustained increase in crude prices could push up energy and transportation costs, weigh on consumer spending and intensify pressure on sectors sensitive to oil prices.
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