New Delhi, June 18 -- Indian equity markets opened in red on Thursday, though market analysts noted that the medium-term market setup remains supportive as long as global crude oil prices continue to tumble.

The BSE Sensex opened flat down by 23.96 points, or 0.03 per cent, at 77,131.66 points, while the NSE Nifty 50 stood at 24,073.80 points, down 11.90 points or 0.05 per cent.

Ajay Bagga, Banking and Market expert, stated that the contraction of global risks acts as a structural tailwind for the equity landscape.

"Near term, markets may consolidate after a strong rally. But the medium-term setup remains supportive as long as oil stays contained, the Iran deal progresses and global central banks avoid further tightening surprises," Ba...