Markets Bleed for 5th Week: Nifty Below 22,900, Sensex Sinks 2% as FIIs Exit, Crude Rally, Rupee Slide

Stock Market Today: The Indian stock market closed with losses for the fifth straight week amid global headwinds that rattled Dalal Street. Meanwhile, the broad-based sell-off, the crude oil price rally, and the Indian Rupee slide continued to keep investors on edge.

Nifty 50 ended Friday's session with a 2% loss at 22,819 points, whereas BSE Sensex ended the session 1690 points lower at 73,583 points. Shriram Finance, Tata Motors, Reliance, and IndiGo were among the top Nifty 50 losers.

Stock Market Ends In Red For The Fifth Week

Coming to Nifty 50's weekly performance, the benchmark index closed 1.2% lower compared to March 20's closing. With this, the Indian stock market ended the week in red for the fifth week.

The sharp decline in the stock market came as Iran-US war led geopolitical tensions rattled stock markets across the globe.

Stock Market Today: Top Losers, Top Gainers

Shriram Finance, Tata Motors, Reliance, IndiGo, Bajaj Finance, Eternal, SBIN, Adani Enterprises, etc were among the top Nifty 50 losers. Whereas, ONGC, Wipro, Bharti Airtel, TCS, Coal India, Power Grid, etc were among the top Nifty 50 gainers on Tuesday.

Stock Market Today: Broadmarket Indices Remain Under Pressure

Broadmarket indices remained under pressure as Nifty 100, Nifty 200, Nifty 500, Nifty Midcap 50, etc were down close to 2% during Friday's trading session. Whereas, Nifty Smallcap 50, Nifty Microcap 250, etc were also down during the session.

India Vix Surges Over 8%

India Vix, scale to measure volatility in the Indian stock market, was also up significantly on Friday. India Vix closed 8.77% higher at 26.8 points on Friday, March 27.

Decline in Indian Rupee

The Indian Rupee also saw a sharp decline in the week with the domestic currency hitting to fresh lows amid global energy supply concerns. The Indian Rupee ended at a record closing low of 94.81 per US Dollar on Friday, March 27 against Wednesday's close of 93.98 per US Dollar.

Today's fall was driven by rising crude oil prices, sustained foreign outflows, and ongoing global uncertainty due to the Iran-US war in the West Asia. Foreign portfolio investors also continued to sell in the Indian stock market. On Wednesday, foreign portfolio investors dumped stocks worth Rs 1,805 crore on Wednesday. The FII sell-off on Wednesday extended for the 19th consecutive session.

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