Bloodbath In Markets As Sensex Crashes, Nifty Down

Indian shares opened sharply lower on Monday as the escalating Middle East conflict sent Brent crude soaring to a near four‑year high, raising growth and inflation risks and driving up energy costs for the world's third‑largest oil importer. While the Nifty dropped below the psychologically important 24,000-mark, Sensex tanked over 2,000 points. 

Sector-wise, the Nifty PSU Bank was the biggest laggard with over 4 per cent loss at open. The Nifty Bank and the Nifty Financial Services also underperformed. Broader markets fell in line with the benchmark indices. Both the Nifty MidCap and the Nifty SmallCap were trading 2.67 per cent down, each. Meanwhile, the Nifty IT emerged as the best performing stock with least drop.