Indian equities’ weekly losing streak
Indian equities recorded their longest weekly losing streak since the 2020 Covid-19 crash, with the Nifty 50 down 0.88% over the week. Financial services stocks were hit amid concerns over IRDAI reforms, rising US yields and oil-market moves.
Timeline
Saturday, 26 September
- Markets Espresso: Who insures the insurers? Meet the market Pied Piper
Insurance stocks were damaged over Thursday and Friday; the report links the market's focus to oil
Friday, 25 September
- Nifty logs longest weekly losing streak since Covid-19 crash in 2020
Brent crude plunged 11% for the week as 10-year bond yields hardened
- Indian stock market slides, but 28 Nifty 500 stocks hit fresh 1-year highs this week; MCX, PVR Inox among them
Nifty 50 fell 0.88% over the week, its biggest decline since 2020
- Oil, US yield surge, insurance shake-up spur Nifty, Sensex market sell-off
Financial services bore the brunt of the market sell-off
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