Sensex and Nifty fall as investors are alarmed by the unrest in West Asia

The benchmark Sensex and Nifty fell more than 1% on Monday, sending stock markets into a tailspin as investors were uneasy due to the growing tension in West Asia and the negative trends in global markets.

The 30-share BSE Sensex fell 845.12 points, or 1.14 percent, to end at a more than two-week low of 73,399.78, marking the second session in a straight of losses. It fell 929.74 points, or 1.25 percent, to 73,315.16 throughout the day.

The NSE Nifty ended the day at 22,272.50, down 246.90 points, or 1.1%. Important indexes had fallen more than 1% during the previous session on Friday as a result of investors taking profits at all-time highs. Nifty fell 481 points, or 2.13 percent, to close in on the 22,300 mark for the second consecutive day, while Sensex shed 1,638 points, or 2.19 percent.

The markets were also negatively impacted by withdrawals of foreign funds and US inflation data that was higher than anticipated. Proposed modifications to the tax treaty between Mauritius and India, the resurgent war in the Middle East, and the unexpectedly high rate of inflation in the US were seen by analysts as the main drags.

The biggest laggards in the Sensex basket were Tech Mahindra, Wipro, ICICI Bank, Bajaj Finserv, Bajaj Finance, Tata Motors, and Larsen & Toubro.

The winners were Bharti Airtel, Maruti, and Nestle. The BSE smallcap gauge fell 1.54 percent while the midcap index fell 1.50% on the overall market.

Services had a 2.12% decline among the indexes, followed by financial services (1.81%), IT (1.58%), bankex (1.55%), and utilities (1.37%). The winners were oil and gas and energy.