Indian Stock Markets Slide Amid Crude Oil Price Surge and West Asia Tensions
Indian stock markets, represented by the Sensex and Nifty indices, experienced a decline in early trade on Monday due to rising crude oil prices and persistent geopolitical tensions in West Asia.
The surge in Brent crude prices, which reached $88.86 per barrel, was driven by renewed US warnings against Iran, pushing energy markets higher.
Major laggards from the Sensex pack included Infosys, TCS, HCL Tech, Tech Mahindra, Hindustan Unilever, and State Bank of India, while Bharat Electronics and Titan were the only winners.
Experts anticipate Indian equity markets to remain range-bound with a cautious bias due to persistent Middle East tensions, according to Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, who noted that 'crude oil remains the principal concern.'