MUMBAI: Indian stock markets ended sharply lower on Monday as rising geopolitical tensions linked to the ongoing US-Iran war weighed on investor sentiment.
Although the indices recovered partially from the day’s lows after crude oil prices eased.
The Nifty settled at 24, 028.05, down 422.40 points or 1.73 per cent. The index also officially entered the technical correction zone after falling more than 10 per cent from its record high of 26, 373, which it had touched on January 5.
The Sensex ended the day at 77, 566.16, falling 1, 352.74 points or 1.71 per cent.
Despite the sharp fall, both indices managed to recover from their intra-day lows as oil prices softened during the session.
The Nifty rebounded about 160 points from its day’s low of 23, 868.05, while the Sensex recovered nearly 1, 142 points from the intra-day low of 76, 424.55.