Sensex drops 281 pts, Nifty falls for 5th day amid rising oil prices

Benchmark Sensex dropped 281 points, while the broader Nifty fell for the fifth straight session on Monday, due to selling in IT, fast-moving consumer goods, and telecom shares amid rising crude oil prices and persistent geopolitical tensions in West Asia.

The 30-share BSE Sensex declined 281.09 points, or 0.36%, to settle at 77,728.16. During the session, it dropped 555.5 points, or 0.71%, to 77,453.75. 

Falling for the fifth consecutive day, the 50-share NSE Nifty declined 78.35 points, or 0.32%, to end at 24,287.65. 

From the Sensex pack, Infosys, HCL Tech, Sun Pharma, Tata Consultancy Services, Tech Mahindra, and ITC were among the biggest laggards. 

Brent crude, the global oil benchmark, climbed 1.11% to $89.50 per barrel. 

Indian equity markets ended marginally lower on Monday, extending last week's cautious tone as persistent uncertainty surrounding the US-Iran conflict and the absence of meaningful progress toward reopening the Strait of Hormuz kept investors on the sidelines, said Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm.