The Indian stock market declined on Monday after the benchmark index recorded its biggest weekly gain in more than five years. As of 10:29 a.m. Mumbai time, the NSE Nifty 50 index fell 0.3% to 24,906.65 points, and the BSE SENSEX index also experienced a similar decline. Last week, driven by factors such as falling oil prices and the withdrawal of global capital from artificial intelligence stocks, foreign capital poured into the Indian market, causing these two major benchmark indices to soar by more than 8%, the strongest weekly increase since February 2021. As of last Thursday, foreign investors had net purchases of 3.6 billion US dollars of Indian stocks, which is expected to be the largest net inflow of capital in a single week on record. According to preliminary data, foreign investors bought another 1.5 billion US dollars last Friday. After plummeting more than 16% last week, the price of Brent crude oil is currently trading at around $98 per barrel, which allays market concerns about inflation and India's energy import bills.

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