Indian equity benchmarks witnessed a sharp decline at the start of Monday’s trading session.
Growing concerns over geopolitical developments in West Asia, combined with rising oil prices and weak international market performance, dampened market sentiment.
The BSE Sensex commenced trading at 73,421.61, registering a drop of more than 800 points or 1.11 per cent.
The NSE Nifty opened at 23,080.70, reflecting a decline of 286 points or 1.22 per cent.
Selling activity was visible across most sectoral indices during the early hours of trade. Realty counters recorded the steepest losses among all sectors.
Shares from the metal, automobile, and information technology segments also traded under pressure. These indices each slipped by over 1 per cent in opening deals.
Wipro, TCS, Hindalco Industries, Tata Steel, JSW Steel, Bajaj Finance, and Shriram Finance featured among the biggest losers on the Nifty index.
The Nifty Midcap 100, Midcap 150, and Smallcap indices each recorded losses of nearly 1 per cent.
The market fear gauge, India VIX, jumped close to 15 per cent and hovered around the 18 mark.
Investor confidence remained fragile as tensions in West Asia showed signs of escalating further.
Recent Israeli military action in Lebanon and reports of blasts in multiple Iranian cities heightened concerns about regional stability.
Brent crude advanced about 4 per cent to reach $96.90 per barrel.
US benchmark WTI crude also moved higher, gaining 4.64 per cent to trade at $94.75.
Negative sentiment was reflected across key Asian equity markets. Japan’s Nikkei index fell nearly 4 per cent during trading.
South Korea’s KOSPI witnessed a steeper decline of around 5 per cent. Hong Kong’s Hang Seng Index also remained in the red, slipping approximately 1 per cent.
According to market experts, the Nifty continues to show a weak technical structure.
Analysts noted that support is positioned in the 23,100–23,000 range, while resistance is expected between 23,500 and 23,700.
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