India, May 11 -- Indian stock markets witnessed sharp selling pressure on Monday after PM Narendra Modi urged citizens to reduce "non-essential" gold purchases, cut fuel consumption and avoid unnecessary foreign travel amid rising economic uncertainty.

The remarks triggered a major sector-wise reaction across Dalal Street. Jewellery companies and airline stocks suffered steep losses, while electric vehicle (EV) and green mobility firms rallied strongly as investors responded to the government's economic and energy-saving signals.

Global concerns linked to rising crude oil prices, Middle East tensions and pressure on India's foreign exchange reserves also added to the nervous market sentiment.

How Did the Stock Market React to PM Modi S...