Stock Market Today: The domestic equity market fell sharply in the opening trade amid weak global cues due to US President Donald Trump's fresh commentary on war in Iran and rising crude prices. At the time of writing, the BSE Sensex was trading at 73,642.83, down 464.02 points or 0.63 per cent. Nifty50 was quoted at 22,809.80, down 125 points or 0.54 per cent.
Earlier, the 30-share index tumbled 824.44 points to 73,282.41 in early trade. The 50-share NSE index dropped 248.95 points to 22,719.30.
Top Losers And Gainers
InterGlobe Aviation, Mahindra & Mahindra, Eternal, Axis Bank, State Bank of India and Larsen & Toubro were the biggest laggards from the Sensex basket. Tech Mahindra, Bajaj Finance, HCL Tech, and Tata Consultancy Services were trading in green in early trade.
Meanwhile, rising crude oil prices continue to weigh on investor sentiment. Brent crude, the global benchmark, rose 1.48% to $111.40 a barrel.
According to stock market data, foreign institutional investors sold shares worth 8,167.17 crore rupees on Monday. Indian institutional investors, on the other hand, bought shares worth 8,088.70 crore rupees.
In Asian markets, the benchmark South Korean Kospi and Shanghai Composite indices rose, while Japan's Nikkei 225 was undervalued. Markets were closed in Hong Kong for a public holiday.
"Mixed messaging from US leadership and the absence of a concrete ceasefire framework continue to keep uncertainty elevated. Iran's rejection of the US proposal and its counter-conditions suggest that negotiations remain fluid, keeping geopolitical risk firmly in play," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.
US markets ended higher on Monday.