Nifty 50 records seven-week slide, longest losing streak since 2020 pandemic crash

The Nifty 50 closed at 23,140.5 on Friday, marking a seventh consecutive weekly decline and the longest losing streak since the February-April 2020 pandemic sell-off. The index slipped 205.90 points, a 0.3% weekly bounce that still left it 12.3% below its 52-week high and 4.3% above its low. Global influences included U.S. 10-year and 30-year Treasury yields reaching 5.18% and 5.35%, respectively, and Brent crude dropping 11.5% to $98.59 per barrel.

Domestically, a board tussle at Tata Sons and an IRDAI proposal to overhaul insurance distribution commissions weighed on sentiment, driving the BSE Insurance index down 2% and causing PB Fintech shares to lose about a third of their value. The rupee weakened slightly to 95.82 per dollar, while the Indian 10-year government bond yield rose to 7.119%. Analysts linked the slump to higher financing costs and warned that foreign inflows may remain limited despite rising yields.