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<\/div>\n<\/div>\n<\/div>\nStock market today: Sensex and Nifty opened in red on Monday on weak global cues as the closure of Strait of Hormuz led to an increase in oil prices. While Nifty50<\/a> went below 24,300, BSE Sensex<\/a> dropped over 200 points. At 9:16 AM, Nifty50 was trading at 24,290.00, down 64 points or 0.26%. BSE Sensex was at 78,245.84, down 248 points or 0.32%.A key factor to watch will be the next round of diplomatic talks between the US and Iran, particularly as the April 22 ceasefire deadline draws closer.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, \u201cWith the deescalation- escalation drama in the West Asian conflict continuing, the market will remain volatile in the near-term. With Iran hardening its position again, closing the Strait of Hormuz and threatening to retaliate to US\u2019 seizure of an Iranian ship \u2018violating the US blockade\u2019, there is potential for a flare up of the conflict when the ceasefire ends on 22nd April. However, the market signals do not reflect renewed concern and flare up of the conflict. Even though Brent crude has spiked back to $95 levels from below $90 on Friday, there is no panic in the crude market.\u201d \u201cA significant trend in the market now is the outperformance of the broader market. Nifty Midcap and Nifty Smallcap indices are back to pre-war levels. This is in contrast to the Nifty which is still 4% below pre-war levels. The market is responding positively to good results from the broader market space. Even with the uncertainty of the West Asia tensions weighing on the market, particular stocks will respond to good results, particularly when the results beat expectations.“At the start of the new week, oil prices climbed, the US dollar rebounded from recent lows, and global equities showed mixed movement as tensions in the Middle East disrupted shipping flows in and out of the Gulf. Even so, market participants continued to anticipate a possible resolution.Early Monday trends indicated declines in US equity futures, with S&P 500 futures down 0.6% by mid-morning in Tokyo. In Asia, Hang Seng futures rose 1.2%, Nikkei 225 futures edged up 0.3%, Japan\u2019s Topix gained 0.5%, while Australia\u2019s S&P\/ASX 200 remained largely unchanged. In Europe, Euro Stoxx 50 futures slipped 1.2%.Crude oil prices rebounded by more than 6% on Monday after plunging over 9% on Friday, as reports emerged that the Strait of Hormuz had been shut again following mutual accusations by the US and Iran of ceasefire violations involving attacks on vessels over the weekend.Gold prices declined by over 1% on Monday as the strengthening dollar weighed on the metal, while uncertainty surrounding US-Iran negotiations pushed oil prices higher and reignited concerns about inflation.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)<\/span><\/div>\n