J.D. Vance announced on Sunday that he and his team would return to Washington without reaching an agreement, as Iran refused to accept the “last and best offer” made by the United States.
Indian stock markets fell on Monday, as Iran and the United States failed to reach an agreement during talks in Islamabad, Pakistan, over the weekend.
At around opening time, at 9:15 am, the 30-share S&P BSE Sensex fell 2.08 per cent to 75,937.20 points, while the 50-share NSE Nifty fell 1.92 per cent to 23,589 points.
During the initial trade, all 30 Sensex companies were trading lower, with Titan, Sun Pharma, NTPC, Bharat Electronics, Power Grid and Bharti Airtel being the biggest laggards. Follow live updates of US-Iran war news
Meanwhile, Brent crude, the global oil benchmark, rose 7.33 percent to $102.2 per barrel.
Stock markets today
Markets remained lower for the better part of the day on Monday, with the Nifty 50 index trading 0.94 per cent or 227.25 points lower at 23,809.90, as of 12:27 pm.
Meanwhile, the BSE Sensex was down 1.02 per cent or 789.93 points at 76,760.32 at 12:27 pm.
Read also | “Don’t care if they come back”: Trump after the failure of US-Iranian talks in Pakistan; Tehran says its “situation is very bad”
At this time, 25 out of the 30 Sensex companies were trading at a loss, with HDFC Bank, IndiGo, Bajaj Finance, Reliance and Maruti experiencing the maximum loss.
What caused the stock market collapse today?
The bleeding markets came as a result of the failure of the US-Iranian talks in Islamabad over the weekend. US Vice President and chief negotiator J.D. Vance announced in a press conference on Sunday that he and his team would return to Washington without an agreement as Iran refused to accept what he described as America’s “best and final offer.”
Meanwhile, Iran blamed the failure on “unreasonable demands” made by the United States, which included references to the Strait of Hormuz and Tehran’s nuclear programme.
Later in the day, US President Donald Trump criticized Iran over the talks and announced that the US Navy would begin a blockade of ships entering and exiting the Strait of Hormuz starting at 10 a.m. (local time) on Monday.
Read also | An agreement was just inches away: Iranian Foreign Minister shares what happened in talks with the United States
He said that he did not care if Iran returned to the table or not, adding that Tehran’s capabilities had been exhausted and defeated. “Iran is in a very bad situation,” he told reporters on Sunday evening.
“With the failure of US-Iran peace talks and Trump announcing the US naval blockade in the Strait of Hormuz, uncertainty has risen and with it crude oil prices. Brent at $103 has emerged as another threat to the economy and markets,” VK Vijayakumar, chief investment strategist at Geojit Investments Limited, told news agency PTI.
This development “triggered a clear sense of risk aversion in global markets,” said Hariprasad K, research analyst and founder of Livelong Wealth.
In addition, Asian markets, including South Korea’s benchmark Kospi and Japan’s Nikkei 225, also traded lower.
Asmita Ravi Shankar is a senior content producer at Hindustan Times, based in New Delhi. It covers breaking news and focuses on crime, geopolitics and the local political scene. She has a keen eye for the complexities of criminal investigations and a keen interest in how diplomacy and complexities impact politics, both within India and globally. She has written extensively on Operation Sindoor, the Iran-US conflict, elections in India, Trump’s tariffs and diplomacy. Asmita is also involved in multimedia storytelling, using interactive elements to enhance the news experience for readers and build a high-traffic news ecosystem. With nearly three years of experience in journalism, Asmita has been with HT for just over a year. She previously worked with the online news teams at Outlook India and Network18, where she covered a wide range of beats and built her niche. At HT, she was recognized for her comprehensive reporting and contribution to the coverage of the Bihar Assembly election results, where she alone managed to attract over 2 million users that day. Asmita holds a bachelor’s degree in journalism from Delhi College of Arts and Commerce, University of Delhi. She obtained a Postgraduate Diploma in Integrated Journalism from the Asian College of Journalism, which enhanced her skills in multimedia storytelling, editing, and sourcing to enrich her reporting. Additionally, Asmita has a degree in Bharatanatyam from Prachin Kala Kendra. She is also a teacher of Indian classical dance. When Asmita is not working in news, she can be found dancing, watching true crime docuseries, cooking and exploring different genres of music.Read more
