Indian Stock Market Sees Longest Losing Streak in Six Years as Experts Warn of More Pain

The Indian stock market faced another tough week, with the Nifty 50 index marking its seventh straight week of losses, setting its longest losing streak in six years. The Nifty fell by 0.88 percent to close at 23,140, while the Sensex dropped 1.13 percent, losing 843 points over five sessions. The Bank Nifty also went down by 1.38 percent to close at 55,580. Market experts warn that the downward trend is not over yet. The Nifty formed a bearish candle on its weekly chart, pointing to a possible break below crucial support levels at 23,000 and 22,800. Ganesh Dongre, assistant vice-president for equity research at Anand Rathi, pointed out that global tensions involving the US and Iran, along with crude oil prices staying above 100 dollars per barrel, continue to pressure the domestic market. Sumeet Bagadia, executive director at Choice Broking, noted that the Nifty is trading with a sideways to bearish bias, with immediate support at 22,900 to 23,000 and resistance between 23,300 and 23,370. Despite the near-term pain, analysts believe the market will bottom out in October 2026, around the time of the US Midterm Elections. Amit Goel, chief global strategist at PACE 360, explained that rising US Treasury yields, high interest rates from the US Federal Reserve, and a US debt crisis crossing 40 trillion dollars are creating heavy economic pressure. Experts suggest the US administration may attempt to manipulate treasury yields or eventually fix bond yields, similar to Japan's approach, which could weaken the US dollar and boost emerging markets like Dalal Street.