India’s BSE Sensex pared steep early losses but still finished about 0.9% lower at 76,848 on Monday, erasing the previous session’s gains, as sentiment weakened on renewed uncertainty over a Middle East ceasefire and a sharp rise in crude oil prices. US–Iran talks concluded over the weekend without an agreement, while the US announced a blockade of the Strait of Hormuz, amplifying concerns about a prolonged energy supply shock.
All major sectors ended in negative territory, with consumer discretionary, financials, and technology stocks leading the declines. Auto shares were the hardest hit: Maruti Suzuki fell 4.6% on the back of higher oil prices and reports that Delhi’s draft EV policy proposes broad exemptions aimed at curbing air pollution. Other notable laggards included Bajaj Finance (-2.8%), InterGlobe Aviation (-2.8%), Reliance Industries (-2.6%), Tata Consultancy Services (-2.1%), and HDFC Bank (around -2%).
The Indian stock market will remain closed on Tuesday, April 14, in observance of Dr. Baba Saheb Ambedkar Jayanti.
