Indian Equity Markets to Open Flat Amid Brent Crude Decline

Indian equity markets are expected to open on a flat note on Monday following Brent crude's decline to around USD 101 per barrel, according to analysts. The price of Brent crude futures dropped 81 cents or 0.78% to USD 103.06 a barrel at 0031 GMT after settling 0.91% lower on Friday.

Oil prices continued to fall despite fresh attacks claimed by the Houthis over the weekend, with the group targeting 'sensitive' sites in Saudi Arabia's capital, Riyadh, and an Aramco facility in Yanbu. Ponmudi R, CEO of Enrich Money, noted that Indian equity markets are likely to open on a flat note, with GIFT Nifty holding above 23,300 against the Nifty 50's previous close of 23,346.

GIFT Nifty was trading at around 23,347.50 level at the time of reporting, while WTI crude fell to around USD 99.41 a barrel following a 1.58% decline in the previous session. Geopolitical risks remain a key source of uncertainty as Tehran has threatened painful retaliation against the US and its allies in the event of further military action.