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The BSE Sensex plunged more than 1,600 points in the early trade on Monday, April 13, 2026, to fetch an intraday low of 75,937, whereas the NSE Nifty plummeted almost 500 points below 23,600 in the controversial trade on the benchmark index in India.

The catalyst was the failure of the high-stakes US-Iran peace talks, which were to be hosted in Islamabad, Pakistan. Following 21-hour-long discussions, both parties failed to strike a deal on nuclear matters and on the reopening of the Strait of Hormuz, with US Vice President JD Vance accusing Iran of flouting vital conditions.

President Trump later declared that he would impose a naval blockade on the Strait of Hormuz, which further aggravated tension and sent Brent crude oil prices soaring more than 7% to over 102 a barrel. Indian markets were under heavy pressure with this oil shock, as it impacted the oil marketing companies, airlines, and the general sentiment towards risk.

The Sensex later regained part of it to end the day approximately 700 points down, but investors incurred a loss of several lakh crore of the market value. There are still volatility warnings as analysts predict that the Middle East conflict may linger on, and world cues and FII withdrawals will continue to weigh on the situation.