Wall Street logged its biggest drop in more than a year as markets were jolted by another surge in oil prices.
The Indian benchmark indices tripped into the red terrain in mid-morning trade. The metal, auto, and bank sectors were underweighted. The rising crude oil prices amid continuing Russia-Ukraine crisis continued to keep the investors on the edge. The FII outflow of Rs 7,482.08 crore was seen and domestic investor inflow of Rs 5331.03 crore was seen on Monday. Also, the United States is considering acting alone to ban Russian oil imports rather than teaming up with allies in Europe, easing concerns of a wider disruption to crude supplies.