Mumbai, March 14 || Indian equity benchmarks lost nearly 6 per cent on a weekly basis, reflecting sustained selling pressure amid escalating geopolitical tensions in West Asia.
Nifty dipped 5.31 per cent during the week and lost 2.06 per cent on the last trading day to reach 23,151. At close, Sensex was down 1,470 points or 1.93 per cent at 74,563. It advanced 5.52 per cent during the week.
The sharp correction has largely been driven by the surge in crude oil prices and rising macroeconomic concerns for energy-importing economies like India.
The Nifty Auto index plunged around 10–11 per cent, marking its worst weekly performance since March 2020, with each stock in the index seeing a strong sell off.
Shortages of LNG and LPG raise the risk of production disruptions, while potential constraints in CNG availability could alter consumer demand patterns, especially in urban markets where CNG vehicles have gained traction.