E-Paper
Sensex sheds 719 points, Nifty hits two-month low as Iran, Israel trade blows
The BSE Sensex fell 719.08 points, or 0.97%, to close at 73,524.26, while the NSE Nifty50 declined 243.70 points.
Indian equity benchmarks ended sharply lower on Monday, pressured by a global market rout, surging crude oil prices and growing concerns over the economic fallout from escalating tensions in the Middle East.
The BSE Sensex fell 719.08 points, or 0.97%, to close at 73,524.26, while the NSE Nifty50 declined 243.70 points, or 1.04%, to settle at 23,123. Both benchmark indices ended at their lowest levels in nearly two months.
The selloff mirrored weakness across Asian markets after fresh Israeli strikes on Iran and Lebanon intensified fears of a wider regional conflict. Brent crude oil climbed 4.3% to around $97 per barrel, raising concerns about potential disruptions to global energy supplies and the impact of higher oil prices on inflation.
Market breadth remained weak, with 15 of the 16 major sectoral indices ending in the red. Financial stocks, which carry significant weight in benchmark indices, lost about 1%, while information technology shares fell 1.2%.
The broader market witnessed steeper declines. Small-cap stocks dropped around 1.9%, while mid-cap shares fell 1.4%, reflecting widespread risk aversion among investors.
Asian markets also recorded sharp losses. The MSCI Asia ex-Japan index slumped 3.5%, South Korea's KOSPI plunged 8.3%, and Japan's Nikkei fell 3.9%, with technology and AI-related stocks bearing the brunt of the selling after their strong rallies in recent months.
