Mumbai/IBNS, April 13 -- The Indian stock market tumbled sharply on Monday as surging oil prices and fading hopes of a US-Iran ceasefire rattled investor sentiment, media reports said.

The ongoing West Asia conflict triggered broad-based selling, dragging the BSE Sensex down over 2 percent and the NSE Nifty 50 by a similar margin.

Market tanks

The Sensex plunged more than 1,500 points in early trade, while the Nifty dropped nearly 400 points, as geopolitical tensions spooked investors.

All major sectoral indices traded in the red, with PSU banks leading the losses, followed by banking, financials, and oil and gas stocks.

Defensive sectors such as pharma and healthcare saw relatively milder selling, though overall market sentiment rem...