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Indian markets faced a sharp decline as Nifty slipped below 22,400 and Sensex dropped 547 points, driven by surging crude oil prices, higher bond yields, and foreign fund outflows. Key sectors like IT and FMCG struggled, while media and auto stocks showed resilience.
The RBI’s surprise rate hike on October 7 sent the Nifty crashing to a fresh 52-week low of 22,179.90 on Thursday before Friday’s rebound rescued the weekly numbers.
Markets will watch Indian inflation data, US economic releases, corporate earnings, crude prices and rupee movements for direction next week. IT results from HCL Technologies, Wipro and Tech Mahindra may shape sector sentiment, while high US yields and persistent FII selling could weigh on equities.