Indian benchmark equity indices ended lower on Monday as escalating geopolitical tensions in West Asia and rising crude oil prices dampened investor sentiment, triggering broad-based selling across sectors.
The BSE Sensex declined 508.40 points, or 0.68 per cent, to close at 74,267.34, while the NSE Nifty 50 fell 165.15 points, or 0.70 per cent, to settle at 23,382.60.
Market participants remained cautious amid concerns over recent US military strikes and continued hostilities involving Israel and Lebanon, prompting investors to reduce exposure to riskier assets.
Sectoral performance remained largely negative, with consumer-facing and banking stocks bearing the brunt of the sell-off. Nifty FMCG emerged as the worst-performing sector, falling 2.30 per cent, followed by Nifty PSU Bank, which declined 1.85 per cent. Nifty Auto lost 1.70 per cent, while Nifty Private Bank and Nifty Pharma slipped 0.98 per cent and 0.54 per cent, respectively.
However, information technology stocks bucked the trend, with Nifty IT surging 2.66 per cent. Nifty Media gained 1.37 per cent, while Nifty Metal advanced 0.49 per cent, helping limit the broader market decline.
Commodity markets also reflected heightened geopolitical concerns. Brent crude oil rose more than 2 per cent to trade at USD 93.82 per barrel, raising fears of inflationary pressures and increased input costs for businesses.
In the precious metals segment, gold prices eased marginally to Rs 1,54,830 per 10 grams for 24-carat gold, while silver prices edged higher to Rs 2,67,810 per kilogram.
Asian markets, meanwhile, largely maintained positive momentum despite global uncertainties. Japan’s Nikkei 225 gained over 1 per cent to close at 67,005, while Hong Kong’s Hang Seng Index rose 0.86 per cent. Taiwan’s benchmark index advanced 1.33 per cent, and South Korea’s KOSPI emerged as one of the region’s strongest performers, climbing more than 3 per cent to 8,788.
Analysts expect markets to remain sensitive to developments in West Asia, movements in crude oil prices, and progress in India-US trade discussions, which could influence investor sentiment in the near term.
