New Delhi, March 24 -- The equity benchmark indices Sensex and Nifty 50 experienced a steep decline on Monday, March 23, following a profoundly weak trend in global markets as the ongoing conflict in the Middle East showed no signs of abating.

Increasing crude oil prices linked to the war, which has now reached its fourth week, persistent foreign fund withdrawals, and a weakening rupee have contributed to investors' risk aversion.

The 30-share BSE Sensex fell by 1,836.57 points, or 2.46%, closing at 72,696.39. At one point during the day, it plunged by 1,974.52 points, or 2.64%, reaching a low of 72,558.44.

The Nifty 50 dropped 601.85 points, or 2.60%, to finish at 22,512.65.

Since the onset of the conflict on February 28, the BSE ben...