mumbai, Oct. 2 -- Cheaper oil failed to bring much comfort for Indian equities as the markets slid for the eighth consecutive week. Nifty 50 recorded its longest weekly losing streak since 2001 in a holiday-truncated week, with markets closed on Friday for Gandhi Jayanti. On Thursday, it fell 0.88% to 22,421.95, while the Sensex declined 0.79% to 71,909.69. Their weekly losses stood at 3.11% and 2.69%, respectively, with the Nifty posting its sharpest weekly decline since the week ended 13 March 2026. The retreat has sharpened a question: is a recovery in sight? Prasenjit Paul, fund manager at 129 Wealth and head of research at Paul Asset, said elevated oil prices, rupee weakness and higher US bond yields were driving foreign outflows. Foreign portfolio investors sold a net Rs.35,861 crore of equities in September, with Rs.19,273 crore-53.7% of the monthly outflow-withdrawn in the final seven trading sessions. Selling continued on Thursday, with another Rs.9,232 crore offloaded. The US 10-year Treasury yield climbed to around 5.3%, its highest since June 2007, while India's benchmark government bond yield hovered near 7.20%. Crude's retreat to about $96.30 a barrel offered relief, but proved insufficient to reverse market sentiment. On earnings trajectory, V.K. Vijayakumar, chief investment strategist, Geojit Investments Ltd notes that if crude prices remain elevated for long, economic growth and corporate earnings will be impacted. "The market is concerned about this. In this context, 5.2% yield from the US 10-year bond becomes very attractive for FPIs," he added. That assessment also faces a test at the Reserve Bank of India's (RBI) Monetary Policy Committee meeting on October 5-7. September-quarter results will offer another test, beginning with Tata Consultancy Services on October 8 . India also lagged most markets in the global snapshot. Only Indonesia's Jakarta Composite, down 3.72%, fell more than the Nifty. France's CAC 40 and South Korea's KRX 100 lost 2.18% and 2.04%, respectively. For technology businesses, management confidence may matter more than whether subdued quarterly expectations are met. "Earnings are not expected to be great. It's going to be about how confident the management is in the next 6 to 12 months," Anand K Rathi, co-founder of MIRA Money. Moving further, whether AI generates revenue beyond productivity gains will be closely watched in addition to net employee additions for signs of any job losses. The weekly losses were pronounced in auto and consumer-facing shares. BSE Auto fell 5.51%, consumer durables lost 5.31%, and FMCG and realty declined 4.17% and 3.28%, respectively. IT and telecommunications edged up 0.20% and 0.07%....