This week has been super volatile for the Indian markets, with Sensex and Nifty swinging wildly amid rising geopolitical tensions (especially around Iran), spiking crude oil prices, heavy FII selling, and a weaker rupee.
After early gains on March 17-18, there was a sharp 3%+ crash on the 19th, a modest rebound on Friday the 20th (Nifty up 0.5% to 23,114), but today (March 23) saw another big sell-off. Nifty closed at 22,512.65 (down 601 points or 2.6%), while Sensex ended around 72,696 (down ~1,837 points or 2.5%).
Overall for the week so far, both indices are down roughly 4-4.5% from their levels at the start of the week. It's a clear corrective phase after the recent highs, and analysts expect more choppiness next week depending on global cues and oil prices. Not the best week for investors!