Indian indices set for weak start as crude tops $106 on US-Iran tensions

moneycontrol.com —

Indian stock indices Sensex and Nifty are expected to open lower on Monday, as GIFT Nifty fell 74 points to 23,115, signaling a weak start driven by renewed US-Iran tensions and surging crude oil prices. Brent crude rebounded above $106 a barrel after US President Donald Trump rejected an Iranian proposal to resolve the conflict and reopen the Strait of Hormuz, outweighing Friday's positive Wall Street close. Rising global bond yields, a stronger dollar, and persistent foreign institutional selling, with FIIs offloading Rs 3,696 crore in equities, remain key headwinds for domestic markets. Asian equities traded cautiously, with MSCI's Asia-Pacific index slipping 0.2 percent, while US futures were subdued ahead of key employment and inflation data. Nifty's technical structure stays weak, with 23,200 as immediate resistance and 23,000 as crucial support, according to experts.


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