The Indian stock market overall recorded losses last week, with Nifty overall ending in the red for the seventh consecutive week amid soaring bond yields and a sharp selloff in insurance and financial stocks after IRDAI’s reform proposals. Analysts now highlight that the market’s direction during the upcoming week will be determined by oil prices, bond yield trajectory and other key factors.
Sensex and Nifty sharply crashed on Thursday, tumbling nearly 2% each and wiping off a significant portion of investors’ wealth. The market then recovered some losses on Friday, but volatile crude and bond yields at elevated levels kept the market recovery capped.
