Indian Stock Market Expected to Open on Negative Note Amid Ongoing Global Tensions

The Indian stock market is expected to open on a negative note on Monday as Asian markets and crude oil prices continue to impact investor sentiment.

Last week, the Nifty 50 slipped around 1.15% to end at 23,897.70, while the Sensex declined nearly 1% to close at 76,515.43. Both benchmark indices registered their fourth straight weekly fall.

Ponmudi R, CEO of Enrich Money, said that the 77,000-77,500 range is likely to act as the immediate resistance on the upside for the Sensex, while 77,700-78,000 remains a crucial hurdle. A decisive and sustained break above 78,000 could strengthen the recovery momentum.

The S&P 500 futures edged higher on Friday as investors awaited the August jobs report for further indications of the Federal Reserve's interest-rate trajectory. Brent crude futures gained 52 cents, or 0.54%, to $96.80 a barrel, while US West Texas Intermediate (WTI) crude rose 66 cents, or 0.72%, to $92.14 a barrel.