Sensex Closes at Over 2-Month Low

India’s BSE Sensex finished roughly 1% down at 73,524.3 on Monday, the lowest since early April, in line with major global peers. Sentiment was hit by a surge in oil prices after fresh Israeli strikes on Iran and Lebanon raised fears of a wider conflict, potentially disrupting global supply and fuelling inflation concerns. Worries about stretched valuations and potential rate hikes also weighed. In equities, Eternal was the biggest loser with a decline of 3.2%. InterGlobe Aviation's IndiGo dropped 2.6% after Bloomberg reported the low-cost carrier is unlikely to receive the full batch of nine Airbus A321XLR units this year, amid supply chain disruptions linked to the Iran war. Technology stocks also came under heavy selling pressure, with TCS down 2.1%, Infosys falling 0.8%, and HCL Technologies shedding 0.3%. On the flip side, Power Grid (1.8%), Tech Mahindra (1.4%), BEL (1.2%), Bharati Airtel (0.9%) and SBIN (0.4%) advanced the most.

The SENSEX Index fell 719 points or 0.97 percent on Monday to close at 73524 points. Leading the losses are Tata Motors (-2.33%), Mahindra & Mahindra (-2.32%) and Tata Steel (-2.31%). Top gainers were Power Grid (1.72%), Bharti Airtel (1.21%) and Tech Mahindra (1.11%).

India’s BSE Sensex dropped about 0.9% to 73,585 at Monday’s open, hitting its lowest level since April 2, as investors reacted to a sharp rise in crude oil prices and a broader risk-off mood across Asian markets. Stronger-than-expected US economic data also fueled worries that the Federal Reserve could keep interest rates higher for longer, adding pressure on emerging-market assets. Meanwhile, support emerged from the Reserve Bank of India’s latest measures aimed at attracting foreign capital inflows. The central bank announced steps to encourage non-resident deposits and external commercial borrowings, helping lift the rupee and government bonds. The downturn was led by losses in technology and financial stocks. Among individual stocks, notable decliners were HSCL, Wipro, MTAR, IFCI, GE Vernova, and E2E Networks, losing between 4.4% and 5.1%. On the upside, EMS (+14%), Thomas Cook (+10.2%), and NRB Bearings (+7.8%) were among the top gainers.