Sensex Falls 226 Points as West Asia Tensions Send Oil Prices Soaring

Stock markets in India declined on Monday due to renewed tensions in West Asia and higher crude oil prices. The Sensex fell by 226.60 points, while the Nifty dropped by 120.40 points. Among the major laggards were Infosys, Tata Steel, InterGlobe Aviation, Bajaj Finance, Tata Consultancy Services, and Titan.

HDFC Bank was a notable gainer, climbing over 2 per cent. Kotak Mahindra Bank and Bharti Airtel also rose in value.

The global oil benchmark, Brent crude, traded at $90.19 per barrel, up 2.33 per cent. This comes after the US Federal Reserve chief's statement that inflation rates higher than the Fed's long-term target would prompt rate hikes.