The market opened on Monday already on edge. By the time the closing bell rang, the Sensex had lost 372.10 points. The Nifty slipped below 24,000.
The reason: a weekend of attacks between the United States and Iran near the Strait of Hormuz. It started over the weekend.
The US and Iran exchanged attacks at the Strait of Hormuz. That is a narrow waterway. Roughly a fifth of the world’s oil passes through it.
The two sides later agreed to stop fighting and renew talks. But the deal looked shaky from the start.
Brent crude jumped 1.51 percent to USD 73.09 per barrel. That was the immediate market reaction. Oil prices rose.
Investors got nervous. The Sensex fell 478.72 points at its worst point during the day, hitting an intraday low of 76,621.75. It recovered some ground by the close, settling at 76,728.37.
The Nifty ended at 23,946.25, down 109.75 points. Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said the geopolitical tensions escalated sharply over the weekend.
He noted the two sides agreed to halt hostilities and renew talks, which kept losses in check. But he warned the deal’s durability remains in question. The risk of a breakdown is high.
Headline risk and volatility are now deeply embedded in market reactions. Kotak Mahindra Bank was the biggest loser among Sensex stocks.
It fell 3.24 percent. The bank announced that its Managing Director and CEO, Ashok Vaswani, will quit when his three-year tenure ends. He will not seek re-appointment when his term concludes on December 31, 2026.
That announcement added to the bank’s troubles on an already bad day. Other major losers included Mahindra & Mahindra, Maruti, InterGlobe Aviation, UltraTech Cement, and Larsen & Toubro. These are companies that rely on stable oil prices.
When crude jumps, their costs rise. Investors sell first and ask questions later.
The Strait of Hormuz is a chokepoint. It is a narrow passage between the Persian Gulf and the Gulf of Oman. A disruption there can send oil prices soaring.
That is what happened over the weekend. The US and Iran exchanged attacks.
Then they agreed to talks. But nobody trusts the deal to hold. So the market stayed cautious.
The 30-share BSE Sensex declined 0.48 percent. The broader 50-share NSE Nifty dropped 0.46 percent. Those are not catastrophic numbers.
But the intraday drop showed real fear. The market recovered slightly, but not enough to erase the damage.
Some stocks actually gained. The report mentioned that stocks such as E — the text cuts off there. But the point is clear.
Not everything fell. Some sectors likely benefited from the oil price rise.
Energy stocks often do. The day ended with the Sensex at 76,728.37. The Nifty at 23,946.25.
Oil at USD 73.09. And a deal that nobody trusts. The markets will watch the Strait of Hormuz closely in the coming days.
One more attack, and the losses could be much worse.
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