Indian stock markets witnessed a steep decline in early trade on Monday, tracking weak global cues and rising concerns over the ongoing conflict in West Asia, which has pushed crude oil prices higher.
The benchmark BSE Sensex plunged 1,555.62 points, or around 2 per cent, to 72,977.34 during initial trading. Similarly, the NSE Nifty fell 479.95 points, or 2 per cent, to 22,634.55.
Market sentiment remained under pressure as the geopolitical tensions entered their fourth week, raising concerns over energy supply disruptions and inflationary pressures.
Analysts pointed to a broader bearish trend in global equity markets, coupled with continuous foreign fund outflows, as key factors behind the sharp sell-off. The spike in crude oil prices has further added to investor anxiety, given its potential impact on India’s economy.
With multiple global and domestic factors weighing on markets, volatility is expected to persist in the near term.
