Indian stock markets tumbled on Monday, as Iran and the United States failed to reach an agreement during the talks in Pakistan's Islamabad over the weekend.
Around opening time, at 9:15am, the 30-share S&P BSE Sensex fell 2.08 per cent to 75,937.20 points, while the 50-share NSE Nifty plunged 1.92% to 23,589 points.
During the initial trade, all the 30-Sensex firms were trading in the lower trend, with Titan, Sun Pharma, NTPC, Bharat Electronics, Power Grid, and Bharti Airtel being the biggest laggards.
Meanwhile, Brent crude, the global oil benchmark, surged 7.33 per cent to $102.2 per barrel.
Markets remained down for the better part of the day on Monday, with the Nifty 50 trading 0.94 per cent or 227.25 points lower at 23,809.90, as of 12:27pm.
The bleeding markets are a result of the failure of the US-Iran talks in Islamabad over the weekend.
US vice president and chief negotiator JD Vance announced at a press briefing on Sunday that he and his team were returning to Washington without a deal as Iran refused to accept what he described as America's 'best and final offer'.
Meanwhile, Iran blamed the failure on the 'unreasonable demands' presented by the US, which included mentions of the Strait of Hormuz and Tehran's nuclear programme.
Later in the day, US President Donald Trump blasted Iran over the talks and announced that the American navy will begin a blockade of ships entering and exiting the Strait of Hormuz from 10am (local time) on Monday.
