Indian Stocks Fall as Oil Prices Soar, Geopolitical Tensions Rise

The Indian stock market has seen a decline, with the Nifty50 trading below 24,000 and the Sensex down over 1% due to rising oil prices and geopolitical tensions. Foreign investors have pulled out Rs 14,231 crore so far this month, according to market data.

Market experts say the outlook remains largely event-driven, with geopolitical tensions, crude oil movements, and rupee volatility expected to steer sentiment in the near term.

Analysts predict volatility driven by crude oil prices and US-Iran tensions, with the rupee-dollar exchange rate and foreign fund flows also expected to add to market volatility.

The immediate outlook includes the release of India's April CPI inflation data, which will provide cues on the Reserve Bank of India's interest rate trajectory, as well as US April CPI and PPI readings, which could influence Federal Reserve rate-cut expectations and overall risk sentiment. The court will not resume hearing, but the market is expected to stay range-bound, with investors closely watching geopolitical developments and economic data releases.