India’s BSE Sensex fell about 2% to 76,007 on Monday, reversing gains from the previous session and pressured by higher oil prices, after US-Iran peace talks failed to make progress, raising concerns over global growth and corporate profitability. Talks in Islamabad ended in a stalemate, while US President Trump said on Sunday that the US Navy would begin enforcing a blockade of the Strait of Hormuz, escalating geopolitical tensions and pushing oil prices higher. Foreign outflows reached $5.15 billion so far in April, though equity mutual fund inflows from domestic investors climbed to an eight-month high of $4.4 billion in March, helping to curb the market’s decline. On the macro front, India’s inflation data for March is due later today, with expectations of 3.48% from an eleven-month high of 3.21%. Financials, technology, and energy minerals led the losses, with Ola Electric (-4.1%), Cochin Shipyard (-2.2%), Reliance Industries (-2.7%), and HDFC (-2.5%) among the biggest losers.
