Mumbai, July 24: Indian equity markets opened on a weak note on Friday, with the benchmark Sensex and Nifty indices declining nearly 1% in early trade after Brent crude oil prices crossed the $100-per-barrel mark, dampening investor sentiment.
The sharp rise in global crude oil prices has heightened concerns over inflation, higher import costs, and increased pressure on corporate earnings. The development triggered broad-based selling across key sectors, including banking, automobiles, financial services, and oil marketing companies.
Market participants are closely tracking geopolitical developments and movements in global energy markets, as sustained high crude prices could have significant implications for India’s inflation outlook, fiscal position, and economic growth.
Analysts expect market volatility to persist in the near term as investors assess the impact of elevated energy prices alongside upcoming domestic and global economic data. Despite the cautious start to the trading session, long-term market fundamentals remain supported by India’s resilient economic outlook and continued investor interest.