India's Stock Markets Dip Amid Crude Oil Price Rise and US-Iran Tensions

Indian stock markets declined in early trade on Tuesday due to rising crude oil prices and US-Iran tensions. The 30-share BSE Sensex fell 121.48 points to 76,835.79, while the 50-share NSE Nifty dipped 52.6 points to 24,027.80.

The Brent crude price traded 0.76 per cent higher at USD 91.22 per barrel, further weighing on investor sentiment. Ponmudi R, CEO of Enrich Money, said that Indian equity markets are expected to remain cautious due to renewed US-Iran tensions and the resulting rebound in crude oil prices.

However, India's domestic economy showed resilience with a 7.8% GDP growth in the first quarter of FY27, exceeding both the RBI's 7% projection and market expectations.