During early Monday trading, India's Nifty 50 index rose 0.16%, reporting at 23187.75 points, attempting to rebound from Friday's sharp decline. The benchmark index's movement remains closely correlated with Brent crude oil prices, which are being maintained above $101 per barrel. The three-week US-Iran conflict has effectively blocked the Strait of Hormuz, resulting in a global crude oil supply reduction of approximately 8 million barrels per day. Officials, including Indian Foreign Minister S. Jaishankar, are working through diplomatic efforts to resolve this stalemate, which is currently the primary driver of market volatility.