The Indian stock market recorded strong losses, with Sensex and Nifty falling more than 2% in the past week, snapping a two-week gaining streak. This came as surging oil prices, strong FII outflows and geopolitical tensions in the Middle East spooked Dalal Street bulls.
On Friday, Sensex closed 126 points to close at 73,124 while Nifty 50 closed 88 points lower at 22,600 on Friday. Broader markets crashed sharply, with Nifty Smallcap 100 and Nifty Midcap 100 falling up to 3%.
