Indian Shares Post Weekly Losses on Oil and IT Slump
The Nifty 50 and Sensex dropped over 1% on Friday following weak revenue outlooks from major IT firms. Rising crude prices and geopolitical tensions also hurt.
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Xurve View
Equity markets in India faced significant downward pressure this week as a combination of geopolitical tensions and disappointing corporate outlooks dampened investor enthusiasm. The Nifty 50 index declined by 1.14% to settle at 23,897.95, while the BSE Sensex fell 1.27% to 76,681.29. Over the course of the week, the benchmark indexes recorded losses of 1.9% and 2.3% respectively, snapping a two-week winning streak.
