Markets drop for fifth straight session on rising crude oil prices

Sensex has lost 2.6% in the last five sessions on account of political uncertainty and rising crude oil prices

The Indian markets declined for the fifth straight session as the setback for the ruling Bharatiya Janata Party (BJP) in Karnataka along with rising crude oil prices in the global markets weighed down investor sentiment. The benchmark Sensex lost 232 points, or 0.67 per cent to close at 34,616, while the Nifty was down 79.7 points, or 0.75 per cent to close at 10,516. The Sensex has declined 2.6 per cent in the last five sessions. 

Analysts expect the Indian markets to remain volatile in the near- to medium-term on account of multiple headwinds. The Karnataka election outcome has sparked