Markets Poised for Weak Start Amid West Asia Tensions

Sensex and Nifty are set to open sharply lower as Gift Nifty fell 2.12% to 24,390 (at the time of posting this post) amid escalating Iran conflict and rising crude above $80. Global markets slumped, with Asian indices down up to 7%. Higher oil prices have raised inflation and supply concerns, dampening investor sentiment worldwide.