The Sensex crashed 1,124.02 points, or 1.52 per cent, to close at 72,771.72 on Monday, its lowest close since March 30, 2026, as surging crude prices and fears of a US-Iran confrontation rattled investors.

The Nifty 50 fell 360.25 points, or 1.56 per cent, to 22,780.25. As many as 47 of the 50 Nifty constituents ended in the red as selling spread across sectors.

Brent crude jumped 3.81 per cent to $108.3 a barrel after the United States rejected an Iranian deal proposal, dimming hopes of a reopening of the Strait of Hormuz. Roughly a fifth of the world’s oil supply moves through the strait.

Foreign institutional investors sold equities worth Rs 3,693.93 crore in the previous session, while the rupee slid 28 paise to a provisional 96.03 against the dollar. Investors lost about Rs 8.88 lakh crore in market value during the session.

Analysts expect the volatility to continue in the near term. Rising crude prices and global risk aversion may keep pressure on Indian equities, though intervention by the Reserve Bank of India could cushion the rupee at lower levels.