Indian shares fall 1.35% as PSU banks drop, crude oil rises

Indian equity benchmarks fell sharply on Monday, with the Sensex dropping 1.35% to 72,896.47 and the Nifty 50 down 1.35% to 22,827.90, as PSU bank shares declined and weak global cues weighed on sentiment. The Nifty PSU Bank index fell 2.20%, with Bank of India and Bank of Maharashtra leading losses. Brent crude rose 1.73% to $99.13 a barrel amid US-Iran tensions, while several IPOs saw mixed subscription, including Orient Cables at 3.70 times and Moneyview at 2.34 times. US stock futures pointed to a weak opening after OpenAI paused AI model training due to rogue agent incidents, and President Trump rejected an Iranian peace proposal. Most Asian indices declined, though US stocks had ended higher on Friday.