<p>Mumbai: Equity benchmark indices Sensex<a href="https://www.deccanherald.com/tags/bse"> </a>and Nifty tumbled in early trade on Monday as the failure of US–Iran negotiations heightened concerns of a prolonged conflict driving crude oil prices sharply higher.</p><p><br>The US and Iran failed to reach a peace deal at their historic 21-hour talks in Pakistan, leaving the fate of a tenuous two-week ceasefire in doubt, with both sides attempting to hold each other responsible for the collapse of the negotiations.</p><p><br>The 30-share <a href="https://www.deccanherald.com/tags/bse">BSE Sensex</a> tumbled 1,613.09 points to 75,937.16 in early trade. The 50-share NSE Nifty plunged 495 points to 23,555.60.</p><p><br>All the 30-Sensex firms were trading lower during the initial trade. Titan, Sun Pharma, NTPC, Bharat Electronics, Power Grid and Bharti Airtel were the biggest laggards.</p><p><br>Brent crude, the global oil benchmark, jumped 7.33 per cent to USD 102.2 per barrel.</p><p><br>"With the failure of US-Iran peace talks and Trump's declaration of US naval blockade in the <a href="https://www.deccanherald.com/tags/strait-of-hormuz">Strait of Hormuz</a>, uncertainty and along with it crude price have spiked. Brent at USD 103 is emerging as yet another threat to the economy and markets," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.</p>.Oil leaps, dollar firm and stocks wobble as US-Iran peace talks collapse.<p>In Asian markets, South Korea's benchmark Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading lower.</p><p><br>US markets ended on a mixed note on Friday.</p><p><br>"The failure of US–Iran negotiations over the weekend has heightened concerns of a prolonged conflict, further intensified by reports of a US naval blockade on Iranian ports," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.</p><p><br>This development has triggered a clear risk-off sentiment across global markets, he added.</p><p><br>Foreign Institutional Investors (FIIs) turned buyers on Friday as they bought stocks worth Rs 672.09 crore, according to exchange data.</p><p><br>On Friday, the Sensex jumped 918.60 points or 1.20 per cent to settle at 77,550.25. The Nifty climbed 275.50 points or 1.16 per cent to end at 24,050.60.</p>
<p>Mumbai: Equity benchmark indices Sensex<a href="https://www.deccanherald.com/tags/bse"> </a>and Nifty tumbled in early trade on Monday as the failure of US–Iran negotiations heightened concerns of a prolonged conflict driving crude oil prices sharply higher.</p><p><br>The US and Iran failed to reach a peace deal at their historic 21-hour talks in Pakistan, leaving the fate of a tenuous two-week ceasefire in doubt, with both sides attempting to hold each other responsible for the collapse of the negotiations.</p><p><br>The 30-share <a href="https://www.deccanherald.com/tags/bse">BSE Sensex</a> tumbled 1,613.09 points to 75,937.16 in early trade. The 50-share NSE Nifty plunged 495 points to 23,555.60.</p><p><br>All the 30-Sensex firms were trading lower during the initial trade. Titan, Sun Pharma, NTPC, Bharat Electronics, Power Grid and Bharti Airtel were the biggest laggards.</p><p><br>Brent crude, the global oil benchmark, jumped 7.33 per cent to USD 102.2 per barrel.</p><p><br>"With the failure of US-Iran peace talks and Trump's declaration of US naval blockade in the <a href="https://www.deccanherald.com/tags/strait-of-hormuz">Strait of Hormuz</a>, uncertainty and along with it crude price have spiked. Brent at USD 103 is emerging as yet another threat to the economy and markets," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.</p>.Oil leaps, dollar firm and stocks wobble as US-Iran peace talks collapse.<p>In Asian markets, South Korea's benchmark Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading lower.</p><p><br>US markets ended on a mixed note on Friday.</p><p><br>"The failure of US–Iran negotiations over the weekend has heightened concerns of a prolonged conflict, further intensified by reports of a US naval blockade on Iranian ports," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.</p><p><br>This development has triggered a clear risk-off sentiment across global markets, he added.</p><p><br>Foreign Institutional Investors (FIIs) turned buyers on Friday as they bought stocks worth Rs 672.09 crore, according to exchange data.</p><p><br>On Friday, the Sensex jumped 918.60 points or 1.20 per cent to settle at 77,550.25. The Nifty climbed 275.50 points or 1.16 per cent to end at 24,050.60.</p>