13 April,2026 06:21 PM IST | Mumbai | mid-day online correspondent
Sensex drops over 700 points as investor sentiment turns cautious. Representational Image
Benchmark stock indices ended lower on Monday, with both BSE Sensex and Nifty 50 falling nearly 1 per cent. The decline came after the failure of US-Iran negotiations raised fears of prolonged conflict and a sharp rise in crude oil prices, reported PTI.
The Sensex fell 702.68 points (0.91 per cent) to close at 76,847.57. During the day, it dropped as much as 1,681.93 points before recovering some losses. The Nifty slipped 207.95 points (0.86 per cent) to end at 23,842.65.
Sentiment across global markets weakened after US-Iran peace talks failed to produce a deal. The breakdown of negotiations has raised concerns over stability in the Middle East and pushed oil prices higher.
Brent crude rose 7.73 per cent to USD 102.6 per barrel, crossing the USD100 mark. Analysts said rising crude prices are likely to increase inflation pressure and affect currency stability.
Among the 30 Sensex companies, major losses were seen in Maruti, InterGlobe Aviation, Bajaj Finance, Reliance Industries, Tata Consultancy Services and HDFC Bank.
On the other hand, ICICI Bank, NTPC, and Axis Bank managed to close in the green. Market experts said global uncertainty and rising oil prices weighed heavily on investor sentiment.
Vinod Nair, Head of Research at Geojit Investments, said markets were still getting some support from a previous ceasefire framework, but global tensions were driving volatility. He noted that crude oil above USD 100 per barrel is increasing concerns around inflation and macroeconomic stability,reported PTI.
Ajit Mishra, SVP Research at Religare Broking, said the weakness was mainly due to geopolitical tensions after the collapse of US-Iran talks, which triggered a sharp spike in oil prices and impacted global sentiment, as per the news agency.
Asian markets also closed lower in most regions. South Korea's Kospi, Japan's Nikkei 225, and Hong Kong's Hang Seng ended in the red, while Shanghai's SSE Composite index posted a marginal gain. European markets were also trading lower. US markets had ended mixed in the previous session.
Midcap and smallcap indices also ended in the red. The BSE MidCap Select index fell 0.82 per cent, while the SmallCap Select index dropped 0.33 per cent.
Sector-wise, auto declined the most by 2.10 per cent, followed by energy, services, oil & gas, consumer discretionary, IT, and focused IT. However, telecom, utilities, and power sectors managed to close higher.
Overall, 2,573 stocks declined, 1,790 advanced, and 201 remained unchanged on the BSE.
Foreign Institutional Investors (FIIs) were net buyers on Friday, purchasing stocks worth Rs 672.09 crore. In the previous session, markets had gained strongly, with the Sensex rising 918.60 points and Nifty climbing 275.50 points.
Stock markets will remain closed on Tuesday on account of Baba Saheb Ambedkar Jayanti.
(With PTI Inputs)
