Indian markets likely to open flat amid U.S.-Iran oil worries
Business
Indian stock markets are expected to open flat or slightly down today, mainly because oil prices are climbing and there is tension brewing between the US and Iran.
With no big news at home to balance things out, investors are feeling cautious.
Brent $97 spike, Nifty bearish
Brent crude just shot up to $97 a barrel after U.S.-Iran tanker attacks and Iran hinting at possible restrictions in a key oil route.
This has everyone nervous about supply issues, especially since OPEC+ is not planning to pump more oil right now.
On top of that, experts say Nifty is still looking bearish: if it drops below 24,025, we could see it fall further toward the 23,500 zone unless it bounces back above 24,150 soon.