Indian Stock Market Declines Amid Rising Crude Oil Prices and Geopolitical Tensions
The Indian stock market saw a decline in early trade on Monday due to rising crude oil prices and persistent geopolitical tensions in West Asia.
Benchmark indices Sensex and Nifty dipped, with the 30-share BSE Sensex falling by 284.85 points to 77,717.05 during initial trading, while the 50-share NSE Nifty declined 69.25 points to 24,297.05.
The biggest laggards among the Sensex pack were Infosys, Tata Consultancy Services, HCL Tech, Tech Mahindra, Hindustan Unilever, and State Bank of India. In contrast, Bharat Electronics and Titan emerged as winners in this early trade session.
Rising crude oil prices remain a major concern for investors, with Brent crude trading 0.43 per cent higher at USD 88.86 per barrel after renewed US warnings against Iran pushed prices higher on Friday.