India, March 23 -- The Indian stock markets began the week on a low note on Monday, with the benchmark indices Sensex and Nifty50 plummeting significantly during early trade sessions. This comes as crude oil prices have risen, and tensions are brewing in the Middle East.

The S&P BSE Sensex index fell by as much as 1,822 points to 72,710 at 10:29 am, while the NSE Nifty50 index declined by 533 points to 22,581. This sell-off resulted in a massive loss of over Rs 10 lakh crore in terms of market capitalization.

The downturn in India reflects a broader global trend. Asian markets also witnessed heavy losses on Monday, with South Korea's Kospi falling over 6%, Japan's Nikkei down more than 4%, and Hong Kong's Hang Seng losing 3.5%.

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