India Markets Open in Red Amid West Asia Tensions and Hawkish Fed Comments

India's markets opened in the red on Monday as tensions in West Asia escalated and hawkish comments from the US Federal Reserve weighed on sentiment.

The BSE Sensex plummeted by 284.52 points or 0.37% to stand at 76,979.99, while the NSE Nifty 50 declined by 58.10 points or 0.24% to reach 24,117.55.

Ajay Bagga, a banking and market expert, noted that global markets were digesting three key factors: the Strait of Hormuz conflict, Federal Reserve Chair Kevin Warsh's comments on inflation, and Nvidia's earnings blowout.

The AI trade remained alive despite bond yields increasing, adding to the pressure on emerging markets, including India.

Indian benchmarks traded range-bound amid high intra-week volatility, with DIIs absorbing supply and offsetting FII selling. The S&P 500 closed down 19.23 points or 0.25% at 7,711.76, while the Nasdaq slipped 138.93 points or 0.52% to 26,402.42.