Indian Stocks Market Fall Continues,
Ending in Red Most Days
The Nifty 50 and BSE-Sensex closed the week with a more than 2 percent decline, and the Nifty Bank index tanked more than 6 percent.
Indian equity market recorded its longest weekly losing streak in two years as benchmarks Nifty 50 and Sensex index closed lower for the fourth successive week.
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The losses were mainly caused by the escalating crisis in Eastern Europe after Russia’s invasion of Ukrainian territory that is now on its eighth day.
The invasion has sparked one of the biggest rallies in global commodity prices in decades, and massive sell-offs across the globe.
For the Indian economy, where economic recovery is fragile and uneven, the surge in crude oil prices is of more trouble as it will further fan inflation.
The Nifty Metal index closed nearly 7 per cent higher. Aluminium prices were quoting at record highs while copper prices were close to multi-year highs.