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Nifty's Longest Decline Since 2001: What's Next for Indian Stock Market?
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CNBC Awaaz•05-10-2026, 07:16
Nifty's Longest Decline Since 2001: What's Next for Indian Stock Market?
- •Indian stock market records eighth consecutive weekly decline, longest since 2001, surpassing Covid crash duration.
- •Nifty Bank also saw its sixth consecutive weekly decline; Infosys and HDFC Life gained, while Bajaj Auto and Maruti Suzuki lost.
- •Broader market, including Nifty Midcap 100 and Nifty Smallcap 100, also under pressure.
- •Rising US Treasury yields (10-year above 5.3%, 30-year at 5.6%), crude oil prices, and foreign investor selling are key pressures.
- •Upcoming RBI monetary policy, GST Council meeting, US employment report, and corporate earnings season are crucial events to watch.
Key Questions Answered
The continuous decline in the Indian stock market, which extended for an eighth consecutive week, is primarily driven by rising US Treasury yields, climbing crude oil prices, and heavy selling by foreign investors.
Experts note that Nifty's immediate support lies around the 22,200 to 22,250 zone, with a break below potentially pushing the index toward 22,130 or 22,060. On the upside, immediate resistance is pegged at the 22,600 to 22,620 level.
Investors are closely monitoring domestic triggers including the Reserve Bank of India's monetary policy decision and the GST Council meeting focused on GST 2.0 reforms, both scheduled for Wednesday, October 7.
