Sensex Sinks on Oil Price Fears Amid Ongoing Middle East Tensions

The Indian BSE Sensex declined by about 0.5% on Monday to 77,643 as concerns over elevated crude oil prices persisted.

Brent crude hovered around $89 a barrel after rising 4.6% last week due to uncertainty over efforts to end the Iran war and its potential impact on global oil supplies.

Among individual stocks, Reliance Industries' shares opened 0.4% lower despite announcing plans with Britain's Rolls-Royce to develop an engine for India's fighter aircraft program.

Voltas fell 2.6% despite a jump in first-quarter earnings supported by robust air conditioner demand, while PhysicsWallah posted a narrower consolidated loss of 775.7 million rupees and saw its shares rise 6.8%.