Indian markets to open lower amid oil and geopolitical tensions
Business
Indian stocks are expected to open lower today, with the Gift Nifty dropping 120.5 points to 23,339.5 this morning.
Rising oil prices and ongoing geopolitical tensions are making investors nervous, so the mood is pretty cautious right now.
Oil spikes, shipping tensions, US inflation
Crude oil has shot up (WTI is over $103 a barrel and Brent is nearing $108), which could mean higher costs for India and more inflation worries.
Plus, tensions in key shipping lanes like the Red Sea are messing with supply chains.
Globally, Asian equities were trading sharply lower, and US inflation numbers just jumped again, putting everyone on edge ahead of next week's big Federal Reserve meeting.