Higher oil prices to rising bond yields: 5 key risks that could keep the Indian stock market under pressure in 2026

The Nifty 50 has delivered negative returns of over 1% over the last two years, and analysts warn the market faces multiple headwinds through 2026. Key risks include elevated crude oil prices amid US-Iran tensions, rising US 10-year bond yields near 4.60%, potential foreign capital outflows from emerging markets, and India's retail inflation rising to 4.38% in June. India's heavy dependence on oil imports (around 85-90% of requirements) makes it particularly vulnerable to geopolitical disruptions.