Mumbai, April 3: The Indian Stock Market has closed in the red for the sixth consecutive week due to escalating geopolitical tensions in West Asia and significant fluctuations in currency values. In a shortened trading week, both major benchmarks ended lower.
The BSE Sensex closed at 73,319.55 on Thursday, down by 263.67 points or 0.35% from last Friday’s closing. Meanwhile, the Nifty50 saw a decline of 106.50 points or 0.46%, ending at 22,713.10.
On the last trading day of the week, the market experienced a sharp drop, with the Nifty losing over 500 points and the Sensex falling by more than 1,500 points. This decline coincided with a warning from U.S. President Donald Trump about potential military action against Iran in the coming weeks. However, some recovery was observed by the end of the day.
Among the Nifty 50 companies, HDFC Life Insurance, Sun Pharma, Dr. Reddy’s Laboratories, NTPC, and Cipla were the biggest losers this week.
In broader markets, the BSE Midcap 150 underperformed the benchmark, recording a weekly decline of 0.6%, while the BSE Smallcap 250 bucked the trend with a gain of 0.8%.
Sector-wise, the Realty, Healthcare, and Banking sectors saw gains of approximately 3%, 2.7%, and 1%, respectively. Conversely, the Metal, Power, and Consumer Durables sectors recorded declines of over 2%, making them the top losers.
Experts believe that volatility may persist in the market in the coming weeks, as investors remain focused on developments in West Asia. They suggest that if tensions ease, a drop in crude oil prices and currency stability could provide relief to the market. However, if tensions escalate, foreign investment pressure may continue, leading to ongoing market weakness.
Currently, Brent crude prices are hovering around $107 per barrel.
In the upcoming week, the market will be watching several key events, including the RBI’s monetary policy committee decision, the minutes from the U.S. FOMC meeting (April 8), and the commencement of results for the fourth quarter of fiscal year 2026.
It is noteworthy that the stock and commodity markets will be closed on Friday due to ‘Good Friday’, with trading resuming on Monday, following the weekend break.