India Markets Open Weakened by Elevated Oil Prices and High Yields

The Indian markets are expected to open weakly on Tuesday, September 29, as indicated by the GIFT Nifty trading flat or 2 points lower at 22,820.5 in early trade.

This muted start is due to elevated crude oil prices, with Brent crude hovering around $106 per barrel and West Texas Intermediate crude just above $93 per barrel.

The 10-year US yield remains a major concern for Indian markets, close to multi-year highs at 5.24%. Major Asian markets have also opened lower on Tuesday, extending losses for the second consecutive session.