Indian Markets Tumble as Crude Hits $91 Amid West Asian Tensions

The Indian stock market opened lower on Tuesday due to rising crude oil prices and escalating tensions in West Asia.

Brent crude, the global oil benchmark, surged above $91 per barrel, influencing investor sentiment. This was also exacerbated by the US 10-year bond yield increasing to 4.73 per cent, a negative factor for Foreign Institutional Investor (FII) inflows into Indian markets.

The Sensex and Nifty, India's benchmark indices, declined in early trade. The 30-share BSE Sensex fell 278.32 points to 77,450.64, while the 50-share NSE Nifty edged lower by 57.65 points to 24,230.45.

Despite the downturn, analysts remain optimistic about the Indian economy and the potential turnaround in earnings growth as a tailwind for the market.