Indian equities set for cautious consolidation after seven weekly declines

Indian equities are expected to consolidate with a cautious bias this week after seven consecutive weekly declines, with the Nifty 50 falling over 5% amid elevated crude prices and multi-year highs in global bond yields. Brent crude near $105 per barrel and rising US Treasury yields, which hit 5.21% on September 24, are pressuring sentiment ahead of the Reserve Bank of India's October 7 policy review. India's 10-year yield has moved above 7%, tightening domestic financial conditions. Global central banks have shifted toward tightening, with the US Federal Reserve, European Central Bank, and Bank of Japan raising rates recently. Key economic data due this week includes US and China manufacturing PMIs, US non-farm payrolls, and GDP figures, while Indian markets close October 2 for Gandhi Jayanti.