The markets ended on Mondat sharply lower as global tensions, rising crude oil, and foreign selling hit investor sentiment. The BSE Sensex closed at 71,948, down 1,636 points (2.2%), while the NSE Nifty 50 fell 488 points (2.1%) to 22,331.
Selling was broad-based, with banking and financial stocks leading the decline. HDFC Bank, ICICI Bank, State Bank of India, and Axis Bank were among the top losers, dragged down by a weak rupee and tightening rules from the RBI on forex positions. Automobile and consumer goods stocks also recorded losses.
Some sectors saw gains as investors rotated toward safer bets. NTPC, NHPC, Power Grid, and select oil & gas stocks rose, benefiting from defensive demand amid market uncertainty.
Rising crude prices above $115 per barrel and a rupee near 95 per US dollar added to inflation concerns, further pressuring equities. Foreign investors continued pulling out funds, making the sell-off more pronounced.