Indian stock market falls 700 points as Iran-US tensions hit Sensex and Nifty

Indian stock markets fell sharply on Monday, with the Sensex plunging over 700 points and the Nifty dropping below 22,950, as escalating Iran-US tensions drove up oil prices and bond yields, erasing nearly Rs 5-6 lakh crore in market value. The sell-off was broad-based, with all Sensex constituents trading lower and sectoral indices like auto, financial services, and metals falling over 1%. Key triggers included US President Trump's rejection of Iran's ceasefire proposal, Brent crude jumping near $107 per barrel, and US Treasury yields surging to multi-year highs, which made equities less attractive. The Indian rupee also weakened to 95.89 against the dollar, adding to investor concerns. Market volatility index India VIX rose nearly 13%, reflecting heightened uncertainty as investors closely watch developments in the oil-rich Middle East for further direction.