Mumbai: Indian equity markets opened sharply lower on Monday, tracking weak global cues and rising uncertainty surrounding the Strait of Hormuz, a key artery for global oil supplies.
The benchmark BSE Sensex plunged over 1,450 points in early trade, slipping to 73,080.35 around 9:17 am. The broader Nifty 50 also witnessed heavy selling, falling more than 400 points to 22,702.10.
The sharp decline comes amid heightened geopolitical tensions in West Asia, which have raised fears of supply disruptions and triggered volatility across global financial markets. Investors remained cautious as concerns over energy security and rising crude oil prices weighed on sentiment.
The weakness was not limited to domestic markets. Major Asian indices also saw steep losses, with Japan’s Nikkei 225 dropping over 3 per cent and South Korea’s Kospi sliding nearly 5 per cent during early trading hours.
Wall Street had ended on a negative note in the previous session, with the S&P 500 and the Dow Jones Industrial Average closing lower, setting a weak tone for global markets.
Adding to investor concerns, the Indian rupee also weakened further, hitting a fresh low against the US dollar, reflecting capital outflows and rising pressure on the country’s import bill amid elevated crude prices.
Market participants are expected to remain on edge in the near term, with geopolitical developments and oil price movements likely to dictate the direction of both equities and currency markets.
