Weak Global Cues Send Indian Stock Market Lower on Monday

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday, August 17, tracking weak global cues. The Gift Nifty also pointed to a subdued start, trading around 24,393.5, down 56.1 points from the previous close of Nifty futures.

Domestic equities ended marginally lower in the previous session, with the Nifty 50 closing below the 24,400 mark. The Sensex declined 70.71 points, or 0.09%, to 78,009.25, while the Nifty 50 fell 29.85 points, or 0.12%, to settle at 24,366.

Crude oil prices remained largely stable on Monday as renewed clashes in Lebanon and attacks on vessels in the Strait of Hormuz clouded hopes for a ceasefire agreement to end the US-Iran conflict. Brent crude traded below $89 a barrel after rising around 6% last week, while West Texas Intermediate (WTI) hovered near $82 a barrel.

Ponmudi R, CEO of Enrich Money, said Indian equity markets are expected to remain range-bound with a cautious bias as persistent geopolitical tensions in the Middle East continue to restrain risk appetite. Ongoing disruptions to regional shipping, Iran's assertion that the Strait of Hormuz remains under its control, and renewed Israeli strikes in Lebanon have heightened concerns over further escalation and prolonged disruptions to global energy and trade routes.