After peace talks between Iran and the US failed, Indian equity markets crashed on Monday morning. Another reason for the major downward trend across Nifty and Sensex was United States President Donald Trump&rsquo;s announcement of a naval blockade of the <a href="https://www.mid-day.com/news/world-news/article/west-asia-war-strait-of-hormuz-belongs-to-all-nations-says-iran-representative-amid-tensions-23625437" rel="nofollow">Strait of Hormuz</a>.&nbsp;
The BSE Sensex on Monday stood at 76,135.92, marking a decline of 1,414.33 points or 1.82 per cent, while the NSE Nifty 50 dropped 407.00 points to 23,643.60 during the opening bell.
<h2>Energy sector takes a major hit</h2>
Energy PSUs like Coal India stood at Rs 433.65, down by 0.10 per cent, NTPC stood at Rs 377.60, down by 0.67 per cent, while ONGC touched Rs 283.60, down by 1.01 per cent. Whereas Tata Steel also dropped to Rs 202.40 or (-2.04&#37) while JSW Steel stood at Rs 1,191.70, down by 1.90 per cent.
As per ANI, markets showed a significant sell-off in key indices as global sentiment turned risk-averse following volatile negotiations between the US and Iran. The market reaction followed <a href="https://www.mid-day.com/news/world-news/article/west-asia-war-trump-orders-naval-blockade-oil-prices-jump-nearly-8-per-cent-23625450" rel="nofollow">US President Donald Trump's</a> announcement to restrict access through the Strait of Hormuz.&nbsp;
<h2>Crude oil prices and the Indian rupee also suffer</h2>
Crude oil prices, which previously hovered between 94 and 100 dollars, surged back above 105 dollars, reintroducing immediate inflationary concerns for the Indian economy. The Indian rupee was down 66 paisa against the US dollar at Rs 93.35 per USD.
Ajay Bagga, banking and market expert, while speaking to the media amid the crash, said, "I would say we have to be very cautious about the Indian market. There might be a 'Trump pump' this evening because why would he post all this on Sunday?&rdquo;
Bagga further added, &ldquo;It was basically to make Asian markets panic, and you could see a pivot before the US market opened when all shots were in place. You have to just wait and watch and conserve your capital. As retail investors, that's the best we can do in this scenario. Banks are making solid money. Retail investors get butchered in this kind of scenario. So stay away, is what I would say, from trading, as per ANI.&nbsp;
Ponmudi R, CEO of Enrich Money, said, "Global sentiment has turned sharply risk-averse following a renewed escalation in geopolitical tensions. The earlier relief from the temporary US-Iran ceasefire has reversed, as reports indicate that the US has moved to restrict access through the Strait of Hormuz following failed negotiations,&rdquo; as cited by ANI.&nbsp;
Experts further noted that the rally in Indian equities seen last week remained at risk as markets shifted back into a risk-off mode. The <a href="https://www.mid-day.com/business/stock-market/article/stock-updates-today-bse-sensex-nifty-50-rise-on-banking-rally-positive-global-trends-23625044" rel="nofollow">Nifty 50</a> further slipped below the critical 24,000 level, indicating a weak start driven by these renewed geopolitical concerns.
(With inputs from ANI)

Stock market updates: stood at 76,135.92, marking a decline of 1,414.33 points or 1.82 per cent, while the NSE Nifty 50 dropped 407.00 points to 23,643.60

Stock market updates: Sensex crashes over 1,400 points; Nifty drops by 407 points 

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The BSE Sensex on Monday stood at 76,135.92, marking a decline of 1,414.33 points or 1.82 per cent, while the NSE Nifty 50 dropped 407.00 points to 23,643.60 during the opening bell

Sensex crashes over 1,400 points; Nifty drops by 407 points

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