Sensex nosedives 788 pts on U.S-Iran standoff

The BSE benchmark Sensex crashed by nearly 788 points and the NSE Nifty tumbled around 234 points on Monday as heightened tensions in the Middle East kept investors on edge.

The 30-share BSE index ended at 40,676.63, dropping of 787.98 points, or 1.90 per cent. Similarly, the broader Nifty closed at 11,993.05, falling by 233.60 points, or 1.91 per cent.

On the Sensex chart, Bajaj Finance was the top loser, dropping 4.63 per cent, followed by SBI, IndusInd Bank, Maruti, HDFC, Hero MotoCorp, Axis Bank, ICICI Bank and Reliance Industries.

Bucking the broader trend, only Titan and PowerGrid ended with gains.

Domestic market witnessed intense selloff in line with global stocks after U.S President Donald Trump warned Iran of major retaliation if Tehran carries out any attack against America to avenge the killing of top military commander Qasem Soleimani and hinted at striking its cultural sites.