<p>Mumbai: Stock market benchmark indices Sensex and Nifty nosedived over 1 per cent on Monday as investors' sentiment were hit hard following a sharp spike in crude oil prices amid escalating tensions in West Asia.</p><p>Weak trends in global markets and heavy foreign fund outflows also dented sentiments.</p><p>The 30-share BSE Sensex tanked 2,743.46 points or 3.37 per cent to 78,543.73 in early trade. It later ended at 80,238.85, down 1,048.34 points or 1.29 per cent.</p><p>The 50-share NSE Nifty tumbled 575.15 points or 2.28 per cent to 24,603.50 in intra-day trade. The benchmark later settled 312.95 points or 1.24 per cent down at 24,865.70.</p>.Sensex, Nifty crash in early trade as West Asia crisis deepens.<p>From the Sensex pack, InterGlobe Aviation, Larsen & Toubro, Adani Ports, Maruti, Asian Paints, and Bajaj Finserv were among the biggest laggards.</p><p>Bharat Electronics, Sun Pharma and ITC were the only gainers.</p><p>Brent crude, the global oil benchmark, jumped 8.34 per cent to USD 78.95 per barrel.</p><p>Iran's Supreme Leader Ayatollah Ali Khamenei was killed in a coordinated US-Israeli airstrike on Tehran early Saturday, with the Iranian state media confirming the death on Sunday.</p><p>Iran began firing missiles at Israel and the Arab countries in the region in retaliation for the killing of its supreme leader.</p><p>In Asian markets, Japan's Nikkei 225 fell over 1 per cent and Hong Kong's Hang Seng index tumbled more than 2 per cent, while Shanghai's SSE Composite index ended in positive territory. Equity markets were closed in South Korea due to a holiday.</p><p>Markets in Europe were trading sharply lower.</p>.Iran conflict disrupts oil supply to Asian countries dependent on Middle East.<p>The US market ended lower on Friday.</p><p>"Rising geopolitical tensions in the Middle East have unsettled global markets, with concerns over possible extension of the situation given the killing of Iran's supreme leader.</p><p>"Rising crude oil prices and a weakening INR reflect concerns over potential disruptions to oil supply, which could increase inflationary pressures in India and impact fiscals and strain margins for energy and chemical-dependent sectors," Vinod Nair, Head of Research, Geojit Investments Ltd, said.</p><p>The India VIX has edged higher, signalling increased uncertainty and risk aversion among market participants, he added.</p><p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 7,536.36 crore on Friday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 12,292.81 crore.</p><p>On Friday, the Sensex tanked 961.42 points or 1.17 per cent to settle at 81,287.19. The Nifty tumbled 317.90 points or 1.25 per cent to end at 25,178.65.</p><p>Equity markets would remain closed on Tuesday for Holi.</p>
<p>Mumbai: Stock market benchmark indices Sensex and Nifty nosedived over 1 per cent on Monday as investors' sentiment were hit hard following a sharp spike in crude oil prices amid escalating tensions in West Asia.</p><p>Weak trends in global markets and heavy foreign fund outflows also dented sentiments.</p><p>The 30-share BSE Sensex tanked 2,743.46 points or 3.37 per cent to 78,543.73 in early trade. It later ended at 80,238.85, down 1,048.34 points or 1.29 per cent.</p><p>The 50-share NSE Nifty tumbled 575.15 points or 2.28 per cent to 24,603.50 in intra-day trade. The benchmark later settled 312.95 points or 1.24 per cent down at 24,865.70.</p>.Sensex, Nifty crash in early trade as West Asia crisis deepens.<p>From the Sensex pack, InterGlobe Aviation, Larsen & Toubro, Adani Ports, Maruti, Asian Paints, and Bajaj Finserv were among the biggest laggards.</p><p>Bharat Electronics, Sun Pharma and ITC were the only gainers.</p><p>Brent crude, the global oil benchmark, jumped 8.34 per cent to USD 78.95 per barrel.</p><p>Iran's Supreme Leader Ayatollah Ali Khamenei was killed in a coordinated US-Israeli airstrike on Tehran early Saturday, with the Iranian state media confirming the death on Sunday.</p><p>Iran began firing missiles at Israel and the Arab countries in the region in retaliation for the killing of its supreme leader.</p><p>In Asian markets, Japan's Nikkei 225 fell over 1 per cent and Hong Kong's Hang Seng index tumbled more than 2 per cent, while Shanghai's SSE Composite index ended in positive territory. Equity markets were closed in South Korea due to a holiday.</p><p>Markets in Europe were trading sharply lower.</p>.Iran conflict disrupts oil supply to Asian countries dependent on Middle East.<p>The US market ended lower on Friday.</p><p>"Rising geopolitical tensions in the Middle East have unsettled global markets, with concerns over possible extension of the situation given the killing of Iran's supreme leader.</p><p>"Rising crude oil prices and a weakening INR reflect concerns over potential disruptions to oil supply, which could increase inflationary pressures in India and impact fiscals and strain margins for energy and chemical-dependent sectors," Vinod Nair, Head of Research, Geojit Investments Ltd, said.</p><p>The India VIX has edged higher, signalling increased uncertainty and risk aversion among market participants, he added.</p><p>Foreign Institutional Investors (FIIs) offloaded equities worth Rs 7,536.36 crore on Friday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 12,292.81 crore.</p><p>On Friday, the Sensex tanked 961.42 points or 1.17 per cent to settle at 81,287.19. The Nifty tumbled 317.90 points or 1.25 per cent to end at 25,178.65.</p><p>Equity markets would remain closed on Tuesday for Holi.</p>