The Sensex dropped 1,836.57 points, or 2.46 per cent, to settle at 72,696.39, while the Nifty fell 601.85 points, or 2.60 per cent, ending at 22,512.65.
Indian equity markets closed markedly lower on Monday, with benchmark indices witnessing a steep decline due to intensifying tensions between the United States and Iran.
Market analysts observed a distinctly bearish trend, marked by successive lower highs and lower lows, reflecting sustained downward pressure.
Immediate resistance for the Nifty now stands between 22,650 and 22,700, while the 22,900–23,000 range remains a significant supply zone.
The decline followed heightened geopolitical uncertainty in the Middle East, which triggered widespread selling across sectors.
Market volatility surged notably, with the India VIX rising over 17 per cent to close at 26.73.
Broader indices recorded sharper losses than frontline benchmarks. The Nifty MidCap index fell 3.69 per cent, and the Nifty SmallCap index declined 4.16 per cent.
Sectoral performance remained weak, with construction stocks leading losses as the Nifty Construction Durable index dropped over 5 per cent.
Realty and metal stocks also faced heavy selling pressure, while IT stocks showed relative resilience.
The downturn coincided with a surge in crude oil prices. Brent crude climbed to $108.73 per barrel, rising 2.37 per cent after US President Donald Trump warned of strict measures if Iran failed to reopen the Strait of Hormuz within 48 hours. Iran responded by threatening energy infrastructure.
Prime Minister Narendra Modi stated in the Lok Sabha that the government is working to ensure uninterrupted energy supplies through the vital Hormuz route.
Rising concerns over energy security and inflation prompted investors to adopt a cautious stance, resulting in a sharp equity sell-off.
Also Read: Global Oil Markets Rally Sharply As Strait Of Hormuz Tensions Mount
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