Nifty 50 falls for 7th straight session, longest losing streak since Sept 2025; what keeps stock market under pressure? | Stock Market News
Domestic equity barometer Nifty 50 ended in the negative territory for the seventh consecutive session on Wednesday, 19 August, its longest losing streak since September 2025, pressured by the West Asian conflict and elevated oil prices.
The Nifty closed at 24,078.30, down 77 points, or 0.32%, while the 30-share pack Sensex ended with a loss of 326 points, or 0.42%, at 76,909.68.
As many as 34 stocks ended lower in the Nifty 50 index. Shares of Max Healthcare Institute, Coal India, Power Grid Corporation of India, Bajaj Finance, ITC, and Jio Financial Services ended as the top losers in the index, falling 1-2%.
On the other hand, HCL Technologies, JSW Steel, Sun Pharma, and Eternal ended as the top gainers in the index, rising 1-2%.
The mid- and small-cap segments also mirrored the benchmark's trend; the Nifty Midcap 150 lost 0.25%, while the Nifty Smallcap 250 declined 0.63%.
The advance-decline ratio remained in favour of decliners, as out of 4,500-odd stocks traded on the BSE, nearly 2,500 declined while some 1,800 rose. Some 200 remained flat.
In seven consecutive sessions, the Nifty has declined 2%. The Sensex declined for the fourth consecutive session, overall losing 1.5%.
The West Asian conflict and the resulting spike in oil prices are the biggest worries for the domestic market.
Crude oil benchmark Brent Crude futures jumped over 1% to trade above $92 per barrel when the Sensex closed, as the US and Iran remain locked in a stalemate over extending their ceasefire even after six months of conflict.
Iran, as per reports, has considered targeting US military assets in Europe if US President Donald Trump escalates the war.
“Despite better-than-expected corporate earnings for the June 2026 quarter (Q1 FY27) and resilient domestic high-frequency indicators, such as strong PMI activity, CPI inflation staying within the RBI’s target band, and a robust recovery in mid- and small-caps from their March 2026 lows, the benchmark indices remain rangebound due to persistent large-cap underperformance amid severe global macro headwinds,” Pranay Aggarwal, Director and CEO of Stoxkart, noted.
As the world's third-largest importer of oil, India faces heightened threats of imported inflation, a widening current account deficit (CAD), and pressure on the Indian rupee.
The Indian rupee fell to its lowest level since late July on Wednesday. However, a likely intervention by the Reserve Bank of India capped its losses. The domestic currency closed at 95.7525 per dollar, against 95.68 in the previous session.
Higher bond yields and rising expectations of interest rate hikes by the US Federal Reserve are also weighing on market sentiment.
The US 10-year bond yield is now at 4.71%, while the US 30-year yield is at its highest level of 5.3% since 2007. Bond yields are rising in Japan and Germany, too, creating challenges for emerging markets.
"Geopolitical concerns escalated after the 60-day deadline lapsed without a resolution, with both sides maintaining an aggressive stance. Higher long-term bond yields in the US, Germany and Japan are also weighing on emerging-market equities by improving the appeal of developed-market bonds," said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services.
According to Sudeep Shah, the head of technical and derivatives research at SBI Securities, the immediate support for Nifty is placed in the 23,950-23,900 zone.
"Any sustainable move below this zone could result in Nifty extending its weakness towards 23,750, followed by 23,600 in the short term. On the upside, the immediate resistance for Nifty is placed in the 24,230-24,250 zone," said Shah.
Vipin Kumar, AVP-Research at Globe Capital Market, said immediate support is placed around the 24,000 spot level. Going forward, a decisive break and sustained trading below 24,000 could drag the index towards 23,800, followed by 23,600 in the immediate near term. Conversely, sustained trading above 24,250 could lead the index towards the 24,400–24,450 zone.
According to Riyank Arora, Associate Vice President – HNI and Derivatives at Hedged.in, immediate support is placed around 24,000–23,900, followed by a stronger support zone near 23,800. On the upside, resistance is seen around 24,150–24,200. A sustained move above this zone could revive bullish momentum and pave the way for higher levels.
Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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