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Nifty Faces 8-Week Losing Streak: RBI Policy, Earnings, Global Yields in Focus
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CNBC TV18•04-10-2026, 09:38
Nifty Faces 8-Week Losing Streak: RBI Policy, Earnings, Global Yields in Focus
- •Indian equities closed lower, extending the Nifty's longest losing streak since 2001, impacted by rising US Treasury yields and firm crude oil prices.
- •The Nifty Bank index recorded its sixth consecutive weekly fall, while Nifty Auto and Nifty Metal led sectoral declines.
- •Elevated global bond yields, strong crude oil prices, and foreign selling continue to pressure Indian equities, with US 10-year Treasury yield climbing past its 2007 peak.
- •Upcoming key domestic events include the RBI's monetary policy decision and the GST Council meeting; globally, the US jobs report and Treasury yields are crucial.
- •Investors await the earnings season for a potential market trigger, with technical analysis indicating immediate support at 22,250-22,220 and resistance at 22,600-22,620.
Key Questions Answered
Sentiment was hit by rising US Treasury yields, firm crude oil prices, and heavy foreign selling, pushing the Nifty into its longest losing streak since 2001.
The upcoming key domestic events include the Reserve Bank of India's monetary policy decision and the GST Council meeting on the GST 2.0 process reforms.
Analysts note that the 22,250-22,220 zone or 22,200-22,000 band acts as immediate support, while the 22,600-22,620 zone serves as an immediate hurdle.
