Sensex falls 1300 points on Monday as rising crude oil prices and economic concerns triggered heavy selling in the Indian stock market.
The benchmark BSE Sensex dropped 1,312 points to close at 76,015, while the Nifty 50 declined 360 points to end at 23,815. Investors reacted cautiously to global tensions and higher oil prices. The Sensex falls 1300 points marked one of the sharpest single-day drops in recent weeks.
Market sentiment weakened after Narendra Modi urged citizens to reduce fuel consumption and postpone non-essential spending like gold purchases and foreign travel. Investors interpreted the remarks as a sign of pressure on India’s import bill and foreign exchange reserves.
At the same time, crude oil prices surged due to tensions in West Asia, increasing inflation fears and affecting energy-dependent economies like India. As a result, several sectors including auto, oil and gas, and consumer stocks saw sharp declines during the session.
Analysts say markets may remain volatile if global tensions and oil prices continue to rise.
