Nifty, Sensex Fall for 7th Straight Week Amid High Crude Prices, Rising US Bond Yields

September 26, 2026

Mumbai: Indian equity benchmarks posted notable losses for the seventh consecutive week, with elevated crude oil prices and rising US bond yields weighing on investor sentiment.

The Nifty declined 0.88 per cent during the week but gained 0.34 per cent on the last trading day to close at 23,140. The Sensex rose 315 points, or 0.43 per cent, on Friday to end at 73,895, but declined 0.54 per cent over the week.

Markets Face Selling Pressure Amid Global Concerns

Indian markets came under heavy selling pressure during the middle of the week, with the benchmark indices falling more than 1.6 per cent on Thursday. A modest recovery followed on Friday, supported by value buying.

Brent crude remained above the $105-per-barrel mark for most of the week, while WTI crude stayed above $90 per barrel amid continued geopolitical uncertainty and concerns over global oil supplies.

Oil prices moderated towards the end of the week, easing some concerns over India’s import bill, inflation expectations, the rupee and corporate input costs.

Rising US Bond Yields Add Pressure

Analysts said the global bond market continued to put pressure on equities, with the yield on the US 10-year Treasury moving above 5.10 per cent during the week.

Elevated bond yields continue to tighten global financial conditions and could reduce the relative attractiveness of emerging-market assets, analysts said.

Foreign institutional selling has also intensified significantly compared with previous weeks, emerging as another major headwind for domestic equities.

Iran Conflict, Oil Prices and Rupee in Focus

Meanwhile, Iran has submitted a new seven-day proposal to the United States seeking to end the ongoing conflict and reopen the strategically important Strait of Hormuz if Washington lifts its naval blockade, waives oil sanctions and agrees to a broader ceasefire.

The developments around the conflict remain important for global oil markets, particularly because prolonged disruptions could affect crude supplies and prices.

Analysts said the 23,000 level remains the immediate support area for the Nifty, while the 23,200 region remains the immediate resistance zone.

Market participants are also closely watching the trajectory of the rupee. Persistent oil-related demand for dollars and continued foreign institutional outflows could keep the currency under pressure, although intervention by the Reserve Bank of India (RBI) has helped contain excessive volatility.