Indian Stocks Tumble: Sensex Drops 1,000 Points, Nifty Below 22,850
Indian stock benchmarks Sensex and Nifty50 crashed over 1% in morning trade on Monday, with Sensex falling over 1,000 points and Nifty50 dropping below 22,850, driven by rising oil prices and surging US bond yields amid escalating Iran-US tensions. The selloff erased nearly Rs 6 lakh crore from BSE-listed companies' market capitalisation, with all 30 Sensex stocks trading lower. Asian markets also weakened, with South Korea's Kospi falling over 2% and China's Shanghai Composite dropping 1.7%, while the Indian rupee weakened to 95.89 against the dollar. Key triggers include US President Donald Trump rejecting Iran's ceasefire proposal, crude oil prices nearing $107 per barrel, and US 10-year Treasury yields exceeding 5.2%, their highest since 2004. Foreign investors continued selling Indian equities, with outflows reaching Rs 25,682 crore this month.