6% each as soaring oil prices and bond yields, amid the escalating Iran-US conflict, spooked investors. The Sensex plunged over 1,124 points to close below 72,772, while the Nifty 50 dropped more than 360 points to end the session near 22,780.

The sharp sell-off wiped out nearly Rs 8 lakh crore from the total market capitalisation of BSE-listed companies, bringing it down to around Rs 474 lakh crore. He noted that the US' rejection of the ceasefire proposal has heightened concerns that tensions in West Asia could persist for longer than anticipated, reducing the likelihood of a near-term diplomatic resolution and increasing the risk of prolonged supply-side disruptions and higher commodity prices.

While rising US bond yields are narrowing the India-US yield spread, potentially leading to foreign fund outflows and keeping market sentiment cautious, selling pressure remained broad-based across sectors as investors reassessed risk amid growing expectations of another Fed rate hike, Nair said. In addition, market participants are likely to remain cautious ahead of the upcoming RBI policy decision, with global liquidity conditions, bond yield movements, oil prices, and policy signals expected to drive sentiment in the near term, the analyst further said.

US stocksWall Street's main indexes fell on Monday after President Donald Trump rejected an Iranian proposal to end the conflict, leading to a spike in crude prices that revived inflation worries and drove Treasury yields higher. 2% gain after the chip giant announced a $150 billion share repurchase authorization, making it the company's biggest ever increase in share buybacks on record.

Iran announced a peace proposal at last week's United Nations General Assembly in New York, saying it had been relayed to the United States through Qatari mediators. While Trump said on Saturday he had rejected the offer, he told Axios on Sunday that he expected US negotiators to continue talks this week.

Crude prices jumped 2% to around $107-a-barrel and weighed on Treasuries, sending longer-dated yields to fresh multi-decade highs. European marketsEuropean equity markets were a bright spot.

1%, driven by oil and gas stocks.. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.

52-week highAmong the ones which hit their 52-week highs on NSE included Cadila Healthcare, Engineers India and Welspun Corp. Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser.