Stock Market Today: The Indian stock market settled the session sharply lower on Monday amid massive broad-based selling, weak global cues, a decline in Indian currency and rising crude oil prices amid middle east conflict. BSE Sensex settled at 72,696.39, down 1836.57 points or 2.46 per cent. Nifty 50 closed 601.85 points or 2.60 per cent lower at 22,512.65.

From the Sensex basket, except for HCL Tech, PowerGrid, Infosys, and Tech Mahindra, all stocks settled in red with Titan, Trent, Ultratech Cement, BEL, Indigo, Tata Steel, HDFC Bank, Adani Ports, Mahindra And Mahindra, Asian Paints, ITC, and Bajaj Finance being the top losers.

Broad-based selling was observed across sectors, with metals, realty, and consumer durables leading the losses, and mid- and small-cap stocks underperforming.

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Why Stock Market Was Down Today?

According to experts, domestic markets witnessed a sharp decline, mirroring weakness across Asian markets amid escalating tensions in the Middle East and concerns over potential disruptions to global energy supplies.

"Investor sentiment turned cautious following Trump’s 48-hour ultimatum to Iran on the Strait of Hormuz. Rising global bond yields signalled heightened inflation and fiscal concerns, while the rupee falling to a record low further pressured markets and triggered FII outflows," said Vinod Nair, Head of Research, Geojit Investments Limited.

According to Ponmudi R, CEO of Enrich Money, escalating war rhetoric over the weekend between the U.S. and Iran triggered a broad-based risk-off sentiment across global markets, with emerging markets, including India, witnessing the sharpest outflows and pressure.

"The sell-off was broad-based across sectors, with defence, consumer durables, realty, and banking stocks leading the decline, falling in the range of 4–5 per cent. Most other sectors also closed lower, registering losses of 1–3 per cent, reflecting widespread risk aversion," Ponmudi added. 

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Rupee Slumps To New Low 

Continuing the free-fall, the Indian currency breached the 94 mark against the US dollar for the very first time. The currency slumped 50 paise to a new record closing low of 94.03 (provisional) against the greenback. The rise in global crude prices and unabated foreign fund outflows are among the key reasons behind pressure on indian currency. 


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