Indian markets open lower as rising Brent crude unnerves investors
Business
Indian stock markets started off in the red this Monday, with the Sensex down 138.39 points and the Nifty slipping below 24,550.
A key reason was rising Brent crude prices, making investors a bit jittery about what's next.
Brent crude rises to $84.50
Brent crude jumped 1% to $84.50 a barrel. Since India relies heavily on imported oil, higher prices mean more worries about inflation and slower growth.
Plus, the rupee lost some ground against the dollar (now at 95.25), though strong foreign inflows helped cushion the fall a bit.
All these factors combined made markets extra cautious today.