Indian benchmark indices extended their losing streak for a fifth consecutive session on Friday, July 24, as rising crude oil prices amid escalating US-Iran tensions continued to dampen investor sentiment.
The sustained selling pressure reflects growing concerns over energy cost inflation and supply chain disruptions stemming from the conflict in the Middle East.
Brent crude climbed sharply during the session, driven by fears of potential supply disruptions in the Strait of Hormuz.
The spike in energy costs has weighed heavily on Indian equities, particularly impacting sectors with high fuel exposure and import dependencies.
Market participants are closely monitoring the geopolitical developments for any signs of de-escalation or further escalation.
Amid the broader market weakness, Anand Rathi market strategist Ganesh Dongre identified three equities for potential accumulation ahead of Monday’s trading session.