India's Stock Market Declines Amid West Asia Tensions and Rising Oil Prices

The Indian stock market saw declines in early trade on Monday due to renewed tensions in West Asia and higher crude oil prices.

The benchmark equity indices Sensex and Nifty declined by 226.60 points and 120.40 points, respectively, during initial trade.

Brent crude, the global oil benchmark, traded 2.33% higher at $90.19 per barrel.

V K Vijayakumar, Chief Investment Strategist of Geojit Investments Limited, said that this week's trading begins with the market facing headwinds due to the Fed chief Kevin Warsh's statement on inflation and a potential rate hike in the FOMC meeting scheduled for September 15-16.

HDFC Bank was among the gainers, climbing over 2%, while Kotak Mahindra Bank and Bharti Airtel also saw gains.