Indian Markets Plunge as Crude Oil Prices Soar, Geopolitical Tensions Mount

The Indian stock market opened bearishly on Tuesday, with the Sensex falling over 300 points and Nifty below 24,300 as crude oil prices surged to USD 91 per barrel and geopolitical concerns mounted.

Brent crude climbed to USD 91.41 per barrel, while WTI rose to USD 85.26 per barrel after President Trump's statements on Iran and Oman weighed on investor sentiment.

Nifty declined for the fifth consecutive session, with a loss of 78 points to close at 24,287, its lowest level since July 29. The Indian rupee also weakened by 17 paise to hit a two-week low of 95.60 per dollar.

Market analysts are cautious about the short-term trend for Nifty, with immediate support around 24,200 and resistance at 24,430 and 24,600. Strong DII buying has provided some cushion to the market, but elevated crude oil prices and geopolitical concerns continue to weigh on sentiment.