Indian Stock Market Indices Dip Amid Elevated Crude Oil Prices

The Indian stock market indices Sensex and Nifty declined in early trade on Thursday due to elevated crude oil prices, fueled by ongoing tensions in the Strait of Hormuz.

Crude oil prices have been a major concern for domestic equities, with Brent crude trading above $89 per barrel despite a modest easing. The unresolved situation in the Strait of Hormuz continues to keep geopolitical risk premiums high in energy markets, according to Enrich Money's CEO Ponmudi R.

The BSE Sensex declined 172.48 points to 77,786.41, while the NSE Nifty was down 90.35 points to 24,343.50. Key laggards on the Sensex pack included Titan, UltraTech Cement, and Reliance Industries.