Indian Stock Market Falls Amid West Asia Tensions and Higher Oil Prices

The Indian stock market closed lower on Monday, August 31, as renewed tensions in West Asia and higher crude oil prices fueled investor worries about a higher-interest-rate environment.

The BSE Sensex dropped 307.24 points to settle at 76,957.27, with 20 of its constituents ending lower and 10 with gains.

Brent crude, the global oil benchmark, jumped 3.63% to $91.30 per barrel, as escalating tensions between the U.S. and Iran kept investors on edge.

Indian equity markets were also affected by foreign fund outflows, which added to investor caution ahead of the MSCI index rebalancing at the close.