Stock markets decline in early trade amid renewed tensions in West Asia, higher crude oil prices
Brent crude rose over 2% to $90.19 a barrel as foreign fund outflows and weak global markets weighed on Indian shares.
- On Monday, benchmark equity indices Sensex and Nifty declined in early trade as renewed tensions in West Asia triggered a rebound in crude oil prices, weakening investor sentiment.
- Renewed escalation of tensions between the US and Iran pushed Brent crude above $90 per barrel, fueling global energy supply concerns and triggering a broader risk-off tone across Asian markets.
- Japan's Nikkei and South Korea's Kospi fell more than 1 per cent in early trade, while the 50-share NSE Nifty dropped 120.40 points to 24,053.55 and the 30-share BSE Sensex declined 226.60 points to 77,028.56.
- Fed chief Kevin Warsh stated if inflation persists, "we have work to do," signaling a likely rate hike during the Federal Open Market Committee meeting scheduled for September 15-16.
- Foreign Institutional Investors offloaded equities on Friday, adding pressure as rising bond yields continue to weigh on equity markets amid compounding geopolitical and monetary headwinds.
21 Articles
21 Articles
Stock Markets Today: Sensex, Nifty Dip on Renewed West Asia Tensions, rising crude
Indian benchmark equity indices, Sensex and Nifty, experienced declines in early trade due to renewed tensions in West Asia, which led to a rebound in crude oil prices, coupled with weak global market trends and foreign fund outflows.
Sensex, Nifty Open in Red as West Asia Conflict, Hawkish Fed Commentary Weigh on Sentiment
Get latest articles and stories on Business at LatestLY. India markets start the week in red as domestic equities face renewed selling pressure from escalating conflict in West Asia and hawkish commentary from the United States Federal Reserve. Business News | Sensex, Nifty Open in Red as West Asia Conflict, Hawkish Fed Commentary Weigh on Sentiment.
Since firing missiles at Iranian targets in late July, the US has been increasingly resorting to sanctions aimed at pressuring Iran to negotiate.
Most Asian markets are down at the start of the week, as the new escalation in the Middle East leads to a strong rise in oil prices and reinforces concerns.
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