Indian Markets Decline Amid Global Cues

Indian equity markets, including the S&P BSE Sensex>>> and NIFTY 50>>>, extended their losing streak on Thursday. This downturn was primarily driven by persistent foreign fund outflows, elevated crude oil prices, and weak global cues. Market experts like Ajay Banga>>> and Rajesh Palviya>>> advised caution, highlighting that sustained strength in Brent Crude>>> prices, hovering near the high-USD 90 per barrel range, negatively impacts India>>>'s inflation and import bill. Global markets, including the S&P 500>>>, Nasdaq Composite>>>, Nikkei 225>>>, Hang Seng Index>>>, and Straits Times Index>>>, also showed weakness. Geopolitical developments, such as the lack of progress on the United States>>>-Iran>>> peace deal and a fragile ceasefire between Israel>>> and Hezbollah>>>, also influenced market sentiment and commodity prices.