Markets Open Weak as Oil Surge and US-Iran Tensions Weigh on Sentiment
What Happened
Indian benchmark indices opened lower on Monday as rising crude oil prices and uncertainty over US-Iran talks dampened investor sentiment. The Sensex opened down 161 points at 73,735, while the Nifty slipped 76 points to 23,065. Brent crude climbed above $106 per barrel after the US rejected Iran's latest proposal on reopening the Strait of Hormuz. Selling pressure was also driven by continued foreign investor outflows, with FIIs selling nearly ₹3,694 crore worth of equities in the previous session.
Key Takeaways
Indian markets started the week on a cautious note, with elevated oil prices, Middle East tensions, and persistent foreign selling likely to keep volatility high.