The Nifty 50 has fallen for seven straight weeks, its longest weekly losing streak in over six years, as a weaker rupee and elevated oil prices weigh on Indian assets. Foreign-exchange reserves dropped the most in almost two years as the central bank supports the currency. India plans to keep federal borrowing near a record 7.9 trillion-rupee target for October through March, adding pressure on bonds ahead of a likely rate hike next week. Markets are closed Friday for a holiday.

Historical data compiled by Bloomberg shows the Nifty returned a median 9.9% over one month after the previous three seven-week losing streaks — during the pandemic, the global financial crisis, and the 1992 post-reform bubble burst — though the sample is small and skewed by a 22% rally in 2020. The 14-day relative strength index is approaching oversold territory, signaling a potential near-term bounce.

Nuvama says realty stocks have lifted on improved home sales, but developers must launch projects on time in the second half and keep ticket sizes affordable. It prefers Prestige Estates for its mid-income housing exposure. Systematix calls IRDAI's proposed single company-wide expense cap a blunt tool that may disadvantage private life insurers except SBI Life. Nomura sees value commerce in smaller cities as the next driver of online shopping growth.