Indian Markets Slip as US-Iran Tensions Escalate, Crude Oil Prices Rise

Indian markets were cautious on Monday as tensions between the US and Iran escalated. The BSE Sensex slipped by nearly 200 points, while the Nifty50 traded above 23,800.

The GIFT Nifty pointed to a subdued start for domestic equities, with Nifty futures quoted at 23,978, down 71 points. This signaled a negative opening for the benchmark index.

Despite this, most Asia-Pacific markets were trading higher on Monday, following gains in technology stocks and a positive lead from Wall Street at the end of last week.

The rise in crude oil prices remains a key concern for Indian equities, given the country's dependence on crude imports. September futures on the Intercontinental Exchange were quoted at $96.73 per barrel, up 0.89%.