Indian benchmark indices Sensex and Nifty halted their two-session winning streak on Friday due to profit booking influenced by weak global cues, increasing crude oil prices, and ongoing pressure on the Indian rupee. The Sensex dropped 161 points to 75,237.99, while the Nifty fell 46 points to close at 23,643.50. Analysts highlighted key resistance and support levels for the indices, emphasizing the importance of geopolitical developments, oil prices, and corporate earnings in the upcoming week.
Market sentiment turned cautious as concerns over the US-Iran conflict persisted, with Iran planning to propose maritime traffic management in the Strait of Hormuz. Any disruption in this region could impact global crude oil supply and escalate financial market volatility. Crude oil prices surged over 3% following statements from US President Donald Trump and Iran’s foreign minister, dampening hopes of an immediate resolution near the Strait of Hormuz.
Investors are closely monitoring the Q4 FY26 earnings season, with over 500 companies set to disclose their financial results for the quarter ending March 2026 in the coming week. Besides domestic triggers, global market trends, foreign institutional investor activity, and developments in the US bond market are anticipated to influence trading sentiment on Dalal Street in the upcoming week.
