Indian Markets: Data Hints Bottom, Trend Says Wait Amidst Global Volatility

• Indian equity markets extended their losing streak to five consecutive weeks, the longest since August 2025, driven by US-Iran conflict, rupee depreciation, FII selling, and rising crude oil.
• Nifty 50, Midcap, and Smallcap indices all closed lower, with IT being the sole sector to edge up; Defence and PSU Banks saw the heaviest declines.
• FIIs continued their relentless selling, offloading Rs 24,596.46 crore this week, pushing March outflows to Rs 1,08,342.5 crore; rupee hit 94.84 against the US dollar.
• Global markets were volatile due to weak US economic data and rising inflation expectations; geopolitical developments will be key drivers next week.
• Oversold indicators like RMI, FII net index futures, Daily Average Swing, and breadth indicators suggest a potential short-term bounce, but the overall trend remains bearish.