Stock markets dive as failure of US–Iran negotiations fuels concerns of prolonged conflict

MUMBAI: (Apr 13) Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday as the failure of US–Iran negotiations heightened concerns of a prolonged conflict driving crude oil prices sharply higher.

The US and Iran failed to reach a peace deal at their historic 21-hour talks in Pakistan, leaving the fate of a tenuous two-week ceasefire in doubt, with both sides attempting to hold each other responsible for the collapse of the negotiations.

The 30-share BSE Sensex tumbled 1,613.09 points to 75,937.16 in early trade. The 50-share NSE Nifty plunged 495 points to 23,555.60.