Indian Markets Decline Amid Brent Crude Surge and Geopolitical Tensions

Indian markets opened lower for the second day in a row as Brent crude prices neared $100 per barrel amid rising tensions in West Asia. The Sensex declined by 456.78 points, or 0.60%, to stand at 75,120.80, while the Nifty 50 dropped 119.65 points, or 0.51%, to trade at 23,515.45.

V K Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, attributed the market's decline to two key factors: Brent crude prices around $100 and the booming IPO market, which is sucking liquidity out of the market.

Vijayakumar noted that investors are flocking to the IPO market due to listing gains, which have increased to about 22% since June. He advised market participants to maintain selectivity rather than chasing speculative momentum, suggesting that there are good and reasonably-priced IPOs available.