Mumbai, April 3: The Indian stock market has closed down for the sixth consecutive week due to escalating geopolitical tensions in West Asia and significant fluctuations in currency. During the shortened trading week, both major benchmarks ended in the red.
The BSE Sensex closed at 73,319.55 on Thursday, down by 263.67 points or 0.35% from the previous Friday’s closing. Meanwhile, the Nifty50 also saw a weekly decline of 106.50 points or 0.46%, finishing at 22,713.10.
On the last trading day of the week, the market experienced a sharp decline, with the Nifty dropping over 500 points and the Sensex falling by more than 1,500 points. This drop occurred following a warning from U.S. President Donald Trump about potential military strikes on Iran in the next 2-3 weeks. However, by the end of the day, the market showed some recovery.
Among the companies in the Nifty 50, 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 with 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 increases of approximately 3%, 2.7%, and 1%, respectively. In contrast, the Metal, Power, and Consumer Durables sectors recorded declines of over 2%, making them the top losers.
Experts believe that market volatility may continue in the coming weeks as investors remain focused on developments in West Asia. They suggest that if tensions ease, there could be a drop in crude oil prices and stabilization in currency, providing relief to the market. Conversely, if tensions escalate, pressure on foreign investments may persist, leading to continued market weakness.
Currently, Brent crude prices are hovering around $107 per barrel.
In the upcoming week, the market will keep an eye on 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 the fiscal year 2026.
It is noteworthy that the stock and commodity markets will be closed on Friday due to ‘Good Friday’, and will reopen on Monday, following the weekend holidays.