Commodities
Indian Stock Markets Slide on Rising Crude Oil Prices
Stock markets in India opened lower on Monday due to a spike in crude oil prices. The BSE Sensex dipped by 19.38 points to 78,479.79 in early deals, while the Nifty skidded by 5.10 points to 24,567.45.
The decline was attributed to geopolitical uncertainties and Brent crude's rise for the third consecutive session to around $84.4 a barrel.
Elevated crude prices remain a key risk, according to Rajesh Palviya, Head of Research at Axis Direct.
Despite this, Foreign Institutional Investors (FIIs) bought equities worth Rs 480.24 crore on Friday, indicating a mildly bullish undertone in the market.