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As the Russian invasion of Ukraine continued to drag on, markets declined on Monday, pushing oil prices even higher.
The benchmark Sensex ended the session at 57,292 with a decline of 571 points or 0.9 per cent. The Nifty ended the session at 17,117, falling 169 points.
Indian equity markets, like their global peers, have been volatile in the last month ever since Russia began its invasion of Ukraine.
They fell as much as 8 per cent at the beginning of the month before recouping all of the losses amid easing of selling by overseas investors.
Foreign portfolio investors (FPIs), however, once again stepped up their selling, pulling out nearly Rs 3,000 crore on Monday. Domestic institutional investors bought shares worth Rs 253 crore.
Brent crude prices rose for a third straight day and hovered around $115 a barrel. The domestic markets have shown vulnerability to higher crude prices with India being a large importer of crude oil.
A combination of peace talks between Russia and Ukraine, state election results, and bargain hunting helped equity markets rebound as much as 10 per cent from their March lows.
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