Indian equity markets extended their decline for a fourth consecutive session, with the Nifty falling 2.36% to close at 22,600. Persistent foreign investor selling, elevated crude oil prices and weakness in banking and cyclical stocks weighed on sentiment, while IT stocks showed relative resilience.
The Nifty needs to sustain a move above 22,800 to regain momentum and potentially recover towards 23,000–23,150. Failure to reclaim this level could expose the index to further weakness around 22,400–22,200, according to Hariselvan Radhakrishnan, Founder and CEO of HST Wealth.
