Indian stock markets opened sharply lower on Monday as rising conflict in West Asia shook global investor confidence. The BSE Sensex dropped more than 1,100 points in early trade, while the NSE Nifty 50 fell over 330 points. It was a weak start to the week, with selling seen across most sectors.
Midcap and smallcap stocks also declined. Realty shares were among the biggest losers, followed by media and oil and gas companies. Investors turned cautious after joint US-Israel airstrikes on Iran over the weekend increased fears of a wider regional conflict.
The Indian rupee depreciated to 91.26 against the US dollar as the world showed a sense of uncertainty. Meanwhile, the price of oil shot up like a rocket over worries of supply shocks, creating new concerns over inflation.
Global markets also struggled. US stock futures fell, and several Asian markets opened in the red. Analysts say volatility may continue in the coming days as geopolitical tensions remain high and investors closely watch further developments.