IBNS-CMEDIA/Mumbai: The Indian stock market remained volatile on Wednesday despite a decline in global crude oil prices and reports of the gradual resumption of normal shipping traffic through the Strait of Hormuz.
The BSE Sensex slipped nearly 50 points at the opening bell, reflecting continued investor caution amid lingering geopolitical and economic uncertainties.
The NSE Nifty 50, however, managed to stay in positive territory, rising 9 points to 23,833.10.
In the commodities market, Brent crude for August delivery fell 0.45 percent to $76.73 per barrel, while US West Texas Intermediate (WTI) crude for August settlement declined 0.48 percent to $72.86 per barrel.
Market sentiment has been closely linked to developments in West Asia after recent tensions raised concerns over potential disruptions in the Strait of Hormuz, a strategic waterway through which nearly one-fifth of the world’s oil supply passes.
Any threat to shipping in the region typically pushes crude prices higher, increasing inflationary risks for oil-importing countries such as India.
While easing tensions and lower oil prices have offered some relief, investors continue to remain watchful of global cues and geopolitical developments.
