Indian stock market indices Sensex and Nifty opened lower on Tuesday, September 8, after closing at six-week lows in the previous session, as sentiment remained subdued amid rising crude oil prices and concerns over a widening conflict in the Middle East.
In the first minute of trade, the Sensex stood at 75,970.28, down 162.53 points or 0.21%, while the Nifty traded at 23,69.10, more than 85 points lower.
The market remained under pressure as Iran threatened to retaliate against US assets if Tehran came under fresh attacks, warning that energy infrastructure across the Gulf, including US oil and gas interests, was vulnerable.
GIFT Nifty futures were at 23,800 points as of 7:40 am, indicating a muted start for the Nifty 50 index, which closed at 23,779.15 on Monday, according to figures cited in a Reuters report.
Brent crude futures hovered around $97 per barrel. India remains particularly vulnerable to higher fuel prices as it imports about 85% of its crude oil requirements.
The 50-stock Nifty index and Sensex closed at their lowest levels in six weeks on Monday, dragged by IT stocks. Escalating tensions in the Middle East and rising expectations of a US rate hike further dented risk sentiment.
{{/usCountry}}The 50-stock Nifty index and Sensex closed at their lowest levels in six weeks on Monday, dragged by IT stocks. Escalating tensions in the Middle East and rising expectations of a US rate hike further dented risk sentiment.
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