Indian Markets Open Red as Brent Crude Hits Fresh Highs Amid West Asia Tensions

The Indian markets opened in red on Monday, September 7, as Brent crude neared USD 97 amid rising tensions in West Asia and concerns over US interest rates.

Brent Crude rose to USD 97.02, while Crude Oil gained USD 0.86% to stand at USD 92.27, according to Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities.

However, the surge in crude prices put pressure on domestic equities, with GIFT Nifty trading lower by 60 points, indicating caution across morning trades.

Rajesh Palviya, Head of Research at Axis Direct, noted that the near-term bias remains cautious, with the index struggling below the crucial 24,000-24,150 zone.