Sensex Plunges 730 Points Amid Geopolitical Uncertainties and Oil Price Surge

The Indian equity markets saw a significant drop on Monday due to surging crude oil prices and geopolitical uncertainties. The benchmark indices Sensex and Nifty plummeted in early trade, with the Sensex tanking 730 points to 73,170.12.

The Nifty dropped 231.50 points to 22,908.95, with all 30 Sensex firms trading lower. Key stocks such as Bajaj Finance, Kotak Mahindra Bank, HDFC Bank, and Bharat Electronics were among the major laggards.

Brent crude, the global oil benchmark, traded 2.27% higher at $106.7 per barrel, weighing on investor sentiment. Ponmudi R, CEO of Enrich Money, stated that Indian equity markets are likely to remain cautious due to renewed geopolitical uncertainty and a rebound in crude oil prices.