<p>The domestic equity benchmark indices extended their losses for the sixth straight week amid elevated crude oil prices, <a href="https://www.mid-day.com/news/world-news/article/west-asia-conflict-hundreds-of-thousands-rally-across-iran-pledge-readiness-to-fight-after-months-of-war-23650721" target="_blank" rel="none noopener">US-Iran conflict</a>, and US Federal Reserve rate hike that dampened investor sentiment.</p>
<h2>Benchmark indices during the week</h2>
<p>During the week, the 30-share BSE Sensex shed 486.80 points or 0.65 per cent, while the 50-share NSE Nifty slipped 51.70 points or 0.22 per cent. &nbsp;</p>
<p>"In the last truncated week, the benchmark indices witnessed continued profit booking at higher levels," Amol Athawale, VP Technical Research, Kotak Securities said.</p>
<p>On Monday, the stock exchanges were closed for trading purposes on account of Ganesh Chaturthi.</p>
<p>"On a weekly basis, the benchmarks continued their losing streak for the sixth consecutive week. With Brent crude oil prices remaining above USD 100 and geopolitical concerns still elevated, these factors continue to remain key overhangs heading into the weekend," Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking said.</p>
<p><a href="https://www.mid-day.com/business/stock-market/article/sensex-nifty-end-on-mixed-note-for-second-consecutive-day-nifty-up-76-points-23650669" target="_blank" rel="none noopener">On Friday, the Sensex declined</a> for the second consecutive day and dipped 19.63 points, or 0.03 per cent, to settle at 74,294.96. The 50-share NSE Nifty extended its gains for the third straight, gaining 75.80 points, or 0.33 per cent, to end at 23,346.40.</p>
<p>On Thursday and Friday, the benchmark indices ended on a mixed note, with the Sensex declining and the Nifty advancing.</p>
<p>The National Stock Exchange's (NSE) Rs 22,569-crore initial public offering (IPO) that hit the market on September 17 also diverted the investors to the primary market, thus weighing on the indices, according to analysts.</p>
<p><a href="https://www.mid-day.com/business/business-news/article/tata-group-stocks-tumble-after-tata-trusts-rejects-tata-sons-listing-chandrasekarans-reappointment-23650622" target="_blank" rel="none noopener">Tata Group stocks</a> also came under pressure on Friday after Tata Trusts had opposed N Chandrasekaran's reappointment as Tata Sons Chairman and also the holding company's listing plans. On Thursday the Group's stocks had rallied following the announcement of the possible listing of Tata Sons and Chandrasekaran's reappointment.</p>
<h2>Sector-wise performance</h2>
<p>"Large-cap benchmarks lagged the broader market, weighed down by their heavier weighting in globally linked and index-heavy names, while mid- and small-cap stocks outperformed as investors rotated toward domestically oriented businesses with stronger earnings visibility, healthier order books and sound balance sheets," Vinod Nair, Head of Research, Geojit Investments said.&nbsp;</p>
<p>"Healthcare and FMCG attracted buying on their defensive earnings profiles and domestic demand linkage, while mid- and small-cap IT names and consumer durables declined on concerns over global technology spending and discretionary demand in a higher-for-longer interest rate environment and persistent pricing pressure, respectively," he added.</p>
<p>Among sectors, the defense index lost the most, shedding 3.80 percent, whereas despite weak market sentiment, India tourism &nbsp;and media indices rallied over 1 percent, Athawale noted.</p>
<h2>FII outflows</h2>
<p>"On the flows front, <a href="https://www.mid-day.com/business/stock-market/article/foreign-institutional-investors-offload-equities-worth-rs-7180-crore-amid-west-asia-crisis-23641524" target="_blank" rel="none noopener">FIIs stayed net sellers</a> for the fifth straight week, offloading Rs 7620 crore. DIIs extended their buying streak with net purchases of Rs 11,232 crore, which helped the index recover from its mid-week lows," Mukherjee said.&nbsp;</p>
<h2>Market outlook</h2>
<p>According to Nair, with geopolitical risk unresolved and foreign flows yet to revive meaningfully, the recovery remains contingent on further easing of external pressures.</p>
<p>Brent crude oil prices eased slightly during the week but continue to stay above USD 100.</p>
<p>Market participants will closely track Brent crude prices, US-Iran geopolitical developments, and the upcoming US and domestic PMI data for cues on near-term direction, Mukherjee said.</p>
<p>"Markets will track India's September flash PMI, August infrastructure output, foreign-exchange reserves and bank credit growth for cues on domestic growth and liquidity. Globally, US industrial production, consumer sentiment and China's Loan Prime Rate decision will provide further cues," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.</p>

During the week, the Sensex lost 486.80 points or 0.65 per cent, while the Nifty fell 51.70 points or 0.22 per cent

Sensex, Nifty decline for the sixth straight week amid global uncertainty

Sensex rises 140 points, Nifty gains nearly 40 points in early deals as crude oil prices ease

During the week, the 30-share Sensex shed 486.80 points or 0.65 per cent, while the 50-share NSE Nifty slipped 51.70 points or 0.22 per cent

Market weekly wrap-up: Sensex, Nifty decline for the sixth straight week amid global uncertainty

Benchmark indices during the week

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