India Stocks Fall as West Asia Tensions Lift Oil

India's benchmark indices fell in Monday's session. The Sensex and Nifty dropped as crude oil prices surged on escalating West Asia tensions, traders said.

Energy costs weighed on stocks across sectors. IT shares such as Infosys and Wipro slipped, partly on concerns over higher fuel bills for clients in the region. Banking stocks including HDFC Bank and SBI also moved lower.

AlphaScala data shows mixed signals on the three stocks from the source. HDFC Bank carries a score of 38 out of 100, labeled mixed. Infosys scores 57, moderate. Wipro scores 46, mixed.

The next catalyst for the market is the trajectory of crude prices. A sustained rally above $80 a barrel would pressure margins for oil-dependent sectors, traders said.