Indian shares post longest weekly losing streak in six years on oil, rate worries

Indian equities ended a sixth consecutive losing week, the longest such run since 2020, according to Business Recorder. On Friday the Nifty 50 advanced 0.33% to 23,346.40, while the Sensex eased 0.03% to 74,294.96.

Oil trading over $100 a barrel, tied to Mideast tensions and tighter global monetary policy, weighed on sentiment. A dip in crude, value-seeking purchases after the latest slide and heavy interest in the $2.3 billion NSE share sale, fully subscribed by day two of bidding, pulled funds from the secondary market.

Against the trend, insurers HDFC Life and SBI Life gained 4% and 2.8%, as investors responded to the sector's growth outlook and greater transparency from a financial-reporting transition. Most Tata Group stocks, including TCS, fell 2.5% to 11.1% amid uncertainty surrounding Tata Sons, the holding firm whose future listing and management are in question after a public dispute. Losses were recorded in 10 of 16 major sectors during the week, while the Nifty and Sensex slipped 0.22% and 0.65% respectively.