Global Oil Surge Drives Indian Markets Down as Copper Rallies

Brent crude oil prices climbed past $91 per barrel following the expiration of a US-Iran ceasefire memorandum and fading peace prospects. The ongoing Middle East conflict threatens key energy routes such as the Strait of Hormuz, intensifying inflationary pressures globally and directly impacting energy-dependent economies.

Indian benchmark indices including the Nifty 50 and Sensex extended their losing streak amid foreign capital outflows and rising crude costs. Conversely, SEBI proposed a fully digital onboarding process for Non-Resident Indians to ease capital flows, while Hindustan Copper shares rallied over 7% due to surging global metal prices.

Higher import bills and elevated commodity prices threaten India's current account deficit and consumer price inflation. Global investors now await upcoming Federal Reserve minutes and inflation metrics to gauge future interest rate trajectories amidst rising treasury yields.