India, Sept. 29 -- Indian stocks fell to their lowest level in almost six months on Monday as hopes of a US-Iran breakthrough faded, pushing crude oil further above $100 a barrel and deepening worries over higher interest rates.

The benchmark Nifty 50 tumbled 1.6% to close at 22,780.25, its lowest level since 2 April, while the Sensex declined 1.5%. Global markets turned risk-off, with stocks in Japan, South Korea and China sliding and US Dow futures facing pressure. US President Donald Trump said he had rejected an Iranian proposal to reopen the Strait of Hormuz and end the fighting, while Iran said diplomacy remained the only way out of the conflict with the US and Israel, according to reports.

The setback sent oil prices higher as fe...