After their first weekly loss in over a month, Indian equities opened flat Monday as crude prices surged on supply fears following a Russian mercenary mutiny.
At 07:48 IST, Singapore Exchange-listed NSE stock futures were up 0.02% at 18,718.
After hitting an all-time high, the S&P BSE Sensex (.BSESN) and Nifty 50 index (.NSEI) consolidated.
Wagner, a Russian mercenary gang, threatened Moscow over the weekend, raising concerns about the Russian oil supply. The move questioned Russia’s political stability.
In early Asia trade, Brent crude futures climbed, which might hurt India’s current deficit since crude accounts for many of its imports.
According to provisional NSE statistics, foreign institutional investors sold 3.45 billion rupees ($42.1 million) of Indian equities on Friday, while local investors sold 6.84 billion.
