Indian Stock Market Falls Over 0.7% as Oil Prices Weigh on Sentiment

The Indian stock market began Monday on a negative note, with both the Sensex and Nifty 50 indices falling over 0.7%. The Sensex dropped 531.03 points to 73,364.71, while the Nifty 50 declined by 174.15 points to 22,966.35.

The decline in oil prices offered some relief to sectors such as paints and airlines, but the Strait of Hormuz remained a significant supply-risk variable for the next trading session. Brent crude futures settled at $104.32 per barrel, down 2.14% from September 25.

In contrast, Wall Street ended Friday on a stronger footing, with the S&P 500 rising 0.51% to 7,743.41 and the Nasdaq gaining 0.48% to 27,068.72.