India’s Nifty, Sensex suffer longest weekly losing streak in five years

MUMBAI: India’s equity benchmarks fell on Friday, posting their sixth straight weekly loss as US tariffs, trade uncertainty and muted earnings dampened sentiment.

The Nifty 50 and the BSE Sensex dropped 0.95% each to 24,363.3 points and 79,857.79, respectively. For the week, they shed 0.8% and 0.9%, respectively. This would be their longest losing streak since April 2020.

Losses were broad-based, with 13 of 16 major sectors ending the week in the red. Small-cap and mid-cap indexes declined 1.4% and 1.1%. IT and pharma indexes lost 0.7% and 2.8%, while financials and energy fell 1.2% and 1.4%, respectively.

Investor sentiment remained fragile amid ongoing uncertainty over a potential US-India trade deal and underwhelming earnings.

On Thursday, US President Donald Trump ruled out further talks until the tariff dispute is resolved. This followed a move to double tariffs to 50%, citing India’s oil imports from Russia.