Indian Markets Fall as Crude and West Asia Tensions Weigh

Indian equity benchmarks declined on Monday as higher crude prices and renewed tensions in West Asia pressured sentiment. The Sensex fell more than 250 points and the Nifty 50 traded below 24,200.

At midday the Sensex stood around 77,294, down roughly 0.32 percent, while the Nifty was near 24,184. Banks led the decline; metals and IT stocks provided limited support.

Gold futures on the MCX rose to approximately ₹1.63 lakh per 10 grams, reflecting safe-haven buying. International gold prices approached a three-month high near $4,641 an ounce as the dollar weakened and geopolitical risk rose.

Crude oil futures also moved lower intraday after earlier gains. Market participants pointed to the combination of elevated energy costs and uncertainty over Iran-related developments as the primary drivers of the session’s tone.