<p>The domestic equity benchmark indices slumped during the week amid elevated crude oil prices <a href="https://www.mid-day.com/news/world-news/article/trump-warns-of-fresh-us-strikes-on-iran-if-tehran-fails-to-reach-agreement-23656695" target="_blank" rel="none noopener">due to geopolitical tensions in West Asia</a> and the persistent FII outflows.&nbsp;</p>
<p>During the holiday-shortened week, the Sensex shed 1605.44 points or 2.15 per cent. The Nifty lost 546.15 points or 2.36 per cent.</p>
<p>The stock market was closed on Tuesday, October 20 on account of Dussehra.&nbsp;</p>
<p>"Indian equities endured a challenging, holiday-shortened week, with benchmark indices extending their losses as inflation concerns intensified following a fresh surge in crude oil prices. Against this backdrop, rising domestic yields placed equity valuation premiums under renewed scrutiny, weighing steadily on the market and overshadowing support from resilient Q2 earnings," Vinod Nair, Head of Research, Geojit Investments said.</p>
<p>On Friday, the 30-share<a href="https://www.mid-day.com/business/stock-market/article/sensex-nifty-decline-for-fourth-straight-session-amid-rising-crude-oil-prices-23656611" target="_blank" rel="none noopener"> BSE Sensex slipped 125.56 points</a>, or 0.17 per cent to settle at 73,123.83. The 50-share NSE Nifty declined 87.65 points, or 0.39 per cent, to close at 22,600. The indices had declined for the fourth straight session during the week.&nbsp;</p>
<h2>Sector-wise performance</h2>
<p>"Among sectors, almost all the major sectoral indices registered selling pressure at higher level but defence, chemical indices lost the most, shedding over 7 per cent," Amol Athawale, VP Technical Research, Kotak Neo said. &nbsp;</p>
<p>IT sector remained resilient during the week, however rate-sensitive sectors such as consumer durables, metals and realty saw the heaviest selling amid input-cost and margin concerns, Nair noted.</p>
<h2>FII outflows</h2>
<p>According to Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking Foreign Institutional Investors (FIIs) remained net sellers for the tenth straight week, though the quantum moderated further to Rs 2697 crore from Rs 8991 crore. FIIs were net buyers in two of the four sessions during the week.&nbsp;</p>
<p>In contrast, Domestic Institutional Investors (DIIs) stayed net buyers for the tenth consecutive week, purchasing equities worth Rs 10,942 crore. They absorbed the bulk of the selling, noted Mukherjee.&nbsp;</p>
<h2>Market outlook</h2>
<p>Market participants will track the global central banks such as US Federal Reserve, European Central bank and Bank of Japan to assess how they weigh inflation risks against growth.&nbsp;</p>
<p>"Until then, foreign flows are likely to stay subdued with yields elevated. Developments in West Asia will continue to drive crude prices and, through them, the rupee and domestic inflation expectations," Nair said.&nbsp;</p>
<p>Investors will also track the Q2 earnings with companies such as Paytm, Tata Consumer, Larsen &amp;Toubro, Maruti Suzuki, Hindustan Unilever, Adani Ports scheduled to report results next week, noted Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services.</p>
<p>He further said Jio Platforms "is scheduled to list on 28 October, which will be a key sentiment trigger for the primary market. The company's <a href="https://www.mid-day.com/business/business-news/article/jio-platforms-ipo-becomes-first-public-offer-globally-to-cross-1-crore-applications-23656581" target="_blank" rel="none noopener">mega initial public offering (IPO), that had a robust participation</a> across categories, will raise about Rs 30,213 crore and command a valuation of roughly USD 108 billion.&nbsp;</p>

The Sensex lost 1605.44 points or 2.15 per cent, while the Nifty dipped  546.15 points or 2.36 per cent during the week

Sensex slips 2.15 per cent during the week amid elevated crude oil prices

Bank of India Q2FY27 net profit increases 25.34 per cent to Rs 3,202 crore

During the holiday-shortened week, the Sensex shed 1605.44 points or 2.15 per cent. The Nifty lost 546.15 points or 2.36 per cent. The stock market was closed on Tuesday, October 20 on account of Dussehra

Market weekly wrap-up: Sensex, Nifty decline amid elevated crude oil prices, FII outflows

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / Business / Stock Market / Article / Market weekly wrap-up: Sensex, Nifty decline amid elevated crude oil prices, FII outflows