Sensex plunges over 1100 points Nifty slips below 22800 as oil surge and geopolitical tensions batter Indian markets

Indian equity benchmarks suffered a sharp sell-off on Monday, with the Sensex tumbling 1,124 points and the Nifty 50 closing below the 22,800 mark, as rising crude oil prices and escalating geopolitical risks triggered widespread selling.

The 30-share BSE Sensex ended at 72,771.72, down 1,124.02 points or 1.52 per cent, its lowest closing level since late March. The broader Nifty 50 fell 360.25 points, or 1.56 per cent, to settle at 22,780.25, near a six-month low. Investor wealth eroded by roughly Rs.7–8 lakh crore during the session.

Selling was broad-based. All major sectoral indices finished in the red, with PSU banks, realty, metals, autos and financial stocks among the worst hit. Midcap and smallcap indices also declined between 1.5 and 1.9 per cent.

The sharp correction extended a prolonged period of weakness. Benchmarks have shed more than 5 per cent over the past month and recorded one of their longest weekly losing streaks in recent years.

Market participants pointed to a combination of global headwinds. Brent crude oil prices climbed sharply amid the ongoing US-Iran standoff and uncertainty over the Strait of Hormuz, raising concerns about inflation and India’s current account. Elevated US Treasury yields, near 5.2 per cent for the 10-year bond, and persistent foreign institutional investor outflows further weighed on sentiment.

The pressure continued into early trade on Tuesday, with both indices opening lower and extending losses as the same factors remained in focus.

Analysts said near-term volatility is likely to persist while crude oil stays elevated and geopolitical risks remain unresolved.