Sensex hits 6-month low as Gulf tensions and weak monsoon weigh on markets

India's benchmark Sensex index plunged 1,124 points (1.5%) to close at 72,771, its lowest level in nearly six months, driven by escalating Gulf tensions and a weak monsoon outlook. The Nifty also fell 360 points (1.6%) to 22,780, its lowest close since March 30. Foreign portfolio investors led the sell-off with net sales of Rs 5,353 crore in stocks, while domestic funds bought Rs 5,189 crore, failing to fully offset the pressure. The rupee neared 96 per dollar, and Brent crude spiked toward $100 per barrel amid US-Iran peace talk stalemate, with rising oil prices threatening inflation and bond yields. The recently listed National Stock Exchange's stock closed at Rs 1,763, below its IPO price of Rs 1,785 for the first time. Investor wealth fell by about Rs 7.5 lakh crore, with BSE-listed companies' market capitalisation now at Rs 474.4 lakh crore.