Weekly Market Wrap: Banking blues and Middle East mayhem; future uncertainty.

TLDR: Indian equity benchmarks ended the week in red terrain as traders opted to book profit at all-time high levels amid tensions in the Middle East and dimming rate cut hopes by the US Fed. The BSE Oil & Gas index was the best performer during the week, while the BSE Bankex index fell. Retail inflation rose to 5.69% in December and wholesale price index surged to a nine-month high of 0.73% in December. The fall in banking stocks and HDFC Bank’s Q3 results also contributed to the decline in the market. As a result, the BSE Sensex declined 1.58% and the Nifty slipped 1.47%.