Indian markets hit six-month low as Sensex drops 1,124 points, Nifty closes below 22,800

Indian stock markets fell sharply on Monday, with the Sensex dropping 1,124 points and the Nifty closing below 22,800, marking a six-month low and extending a seven-week losing streak. The rupee also weakened by 16 paise to 95.98 against the dollar. The sell-off was driven by weak global cues, elevated crude oil prices and bond yields, persistent foreign institutional investor selling, and geopolitical uncertainty after US-Iran peace talks stalled. All sectoral indices ended lower, with PSU Bank, Telecom, and Energy among the hardest hit, while over 190 stocks touched 52-week lows. Market experts expect continued near-term weakness, citing Brent crude surging above $108 per barrel and renewed Houthi security threats. However, they note oversold conditions could trigger a quick pullback rally, with key support levels at 22,650-22,550 for the Nifty.