Indian Markets Slide as Crude Oil Prices Rise Amid Geopolitical Tensions

Stock markets in India declined in early trade on Monday due to a spike in crude oil prices amid geopolitical uncertainties. The Sensex, the benchmark index of the Bombay Stock Exchange, dipped by 19.38 points to 78,479.79 in initial deals. The Nifty, the National Stock Exchange's key indicator, skidded 5.10 points to 24,567.45.

The decline was mainly due to elevated crude prices, which have risen for the third consecutive session. Brent crude, the global oil benchmark, traded 1.03% higher at $84.41 per barrel. This has raised concerns about inflation and its impact on the economy.

However, experts point out that Foreign Institutional Investors (FIIs) have been buying equities, which is a positive factor for the market. FIIs bought ₹480.24 crore worth of shares on Friday. The earnings season is also coming to an end this week, with most companies having reported better-than-expected Q1 results.