Sensex, Nifty Slide Sharply as US–Iran Talks Collapse

Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday as the failure of US–Iran negotiations heightened concerns of a prolonged conflict driving crude oil prices sharply higher.

The failure of the 21-hour talks in Pakistan has cast doubt over the fragile two-week ceasefire, with both nations blaming each other for the collapse of the negotiations.

Reacting to the heightened uncertainty, the 30-share BSE Sensex plunged 1,277.09 points to 76,300.16, while the NSE Nifty dropped 378 points to 23,674.60 in early market trading.