Indian equities witnessed sharp selling pressure on Monday, with the BSE Sensex plunging 1,605.85 points, or 1.98 per cent, to 79,681.34 at 12:43 pm as escalating tensions in the Middle East rattled investor sentiment
Indian equities witnessed sharp selling pressure on Monday, with the BSE Sensex plunging 1,605.85 points, or 1.98 per cent, to 79,681.34 at 12:43 pm as escalating tensions in the Middle East rattled investor sentiment.
The broader Nifty 50 mirrored the weakness, falling 486.85 points, or 1.93 per cent, to 24,691.80. The index opened at 24,659.25 compared with its previous close of 25,178.65. Market breadth remained decisively negative, with 46 stocks declining and only four advancing on the Nifty pack.
Heavyweights drag markets lower
Losses were broad-based, with heavyweight counters bearing the brunt of the sell-off. Shares of Larsen & Toubro slumped nearly 7 per cent, emerging as the biggest laggard on the Sensex. InterGlobe Aviation, which operates IndiGo, dropped over 6 per cent, while Adani Ports and Special Economic Zone fell more than 5 per cent.
Among other notable losers were Maruti Suzuki India, Asian Paints, Mahindra & Mahindra, and Reliance Industries, each declining between 3 and 4 per cent. Financial stocks such as HDFC Bank, ICICI Bank, and Axis Bank were also under pressure, weighing heavily on the benchmarks.
IT counters extended losses, with Infosys, Tata Consultancy Services, and HCL Technologies sliding between 1.5 and 2 per cent.
Defensive pockets offer limited support
On the gaining side, defensive and select energy stocks offered marginal support. Bharat Electronics rose nearly 1 per cent, while Sun Pharmaceutical Industries gained around 0.7 per cent. ONGC and Bharti Airtel also traded in positive territory, though gains were capped.
Despite the selective resilience in defensives, the overall market mood remained cautious. The Nifty’s price-to-earnings ratio stood at 22.03, with the index down nearly 4 per cent over the past week and more than 5 per cent on a year-to-date basis, indicating sustained pressure on valuations.
Geopolitical jitters weigh
The selloff comes amid intensifying conflict between the United States and Iran following coordinated US–Israeli airstrikes that killed Supreme Leader Ali Khamenei. Former US President Donald Trump has warned the conflict could last four to five weeks and cautioned that further casualties are likely.
Iran has named Ayatollah Alireza Arafi as interim Supreme Leader, while military operations continue across key regions. The escalating hostilities have injected fresh uncertainty into global financial markets, pushing investors toward safer assets and triggering risk-off sentiment in equities.
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