Domestic Equity Indices open lower as renewed hostilities in the Strait of Hormuz push crude oil prices higher

The Benchmark Domestic Equity Indices opened lower today as renewed hostilities in the Strait of Hormuz pushed crude oil prices higher, denting investor sentiment. The BSE Sensex opened at 77,103, down 166 points or 0.22 per cent, while the Nifty 50 index opened at 24,053, declining 67 points or 0.28 per cent.
Crude oil prices remained elevated, with Brent crude trading at around 113 dollars per barrel, driven by ongoing tensions in the Hormuz region. Other Asian markets also reflected cautious sentiment. Singapore’s Straits Times index declined 0.36 per cent to 4,906, Hong Kong’s Hang Seng index fell 1.29 per cent to 25,758, and Taiwan’s weighted index slipped 0.15 per cent to 40,651. Markets in Japan and South Korea remained closed. In the United States, markets ended lower yesterday.