India’s BSE Sensex fell further to open around 2.9%, down 76,674 in morning trade on Monday, extending losses from the previous session and falling to its lowest level since April 2025, as sentiment weakened amid the escalating conflict involving the US, Israel, and Iran. Oil prices continued to surge, climbing to their highest levels since 2022, while Asian and US markets also reacted negatively to the geopolitical tensions. Investor sentiment remained fragile across global markets, as persistently higher energy prices could fuel inflationary pressures and potentially slow economic growth. India will release its February inflation figures on Thursday, after the rate came in at 2.75% in January, firmly above market expectations of 2.4%. All sectors opened in negative territory, with financials leading the decline. Notable early decliners included Shriram Finance (-6.1%), Tata Steel (-5.4%), State Bank of India (-4.8%), ICICI Bank (-3.8%), and HDFC Bank (-3.7%).
