NEW DELHI, April 13. /TASS/. India’s benchmark indices – the BSE Sensex and the NSE Nifty 50 – fell by more than 1.5% in Monday trading amid a spike in crude oil prices and the introduction of a US blockade in the Strait of Hormuz.
The Bombay Stock Exchange’s Sensex index dropped by 1,500 points to 76,139. The National Stock Exchange’s Nifty fell below the 23,750 mark. As equities declined, India’s mid-and small-cap segments sustained the heaviest losses. The volatility index rose to 21.3 from 18.8 in the previous session.
The Indian rupee traded at 93.32 against the US dollar. Since the start of the Middle East conflict, the Indian currency has depreciated by nearly 3%.
According to Business Standard, the decline in stock indices was driven by investor concerns over a potential new escalation around Iran and the resulting rise in oil prices.
On April 11, Iran and the United States held several rounds of talks in Islamabad. The Iranian delegation was led by Parliament Speaker Mohammad Bagher Ghalibaf, while the US delegation was headed by Vice President JD Vance. As later reported in Tehran and Washington, the sides failed to reach an agreement on a long-term settlement due to a number of disagreements. Details of a possible new round of talks remain unknown.