23.03.202611:40:27UTC+00Sensex Drops to Near 2-Year Low

India’s BSE Sensex closed about 2.5% lower on Monday at 72,696.4, its weakest level since May 2024, as rising tensions in the Middle East over the weekend injected fresh uncertainty into the economic outlook. US President Donald Trump on Saturday issued a 48-hour ultimatum, warning that Washington could target key Iranian power and energy infrastructure if Tehran failed to fully reopen the strategic Strait of Hormuz to maritime traffic. In response, Iranian authorities vowed the strait would be “completely closed” to shipping and threatened retaliation against critical infrastructure.

The sell-off was broad-based, with all sectoral indices finishing in negative territory. Consumer durables, realty, oil & gas, and chemicals fell between 3% and 6%, while financials and metal stocks also registered steep declines of about 2%–5%. Among individual stocks, Titan was the worst performer, dropping 6.2%, followed by Trent (-5.9%), UltraTech Cement (-5.2%), BEL (-4.9%), IndiGo (-4.9%), and Tata Steel (-4.8%).