India’s BSE Sensex cut early deep losses but still closed about 0.9% down at 76,848 on Monday, reversing the prior session's gains, as investor sentiment deteriorated amid renewed doubts about the Middle East ceasefire and a spike in crude oil prices. US-Iran talks ended without a deal over the weekend, while the US announced a blockade of the Strait of Hormuz, heightening fears of a prolonged energy supply shock. All sectors saw declines, led by consumer discretionary, financials and tech companies. Auto stocks were the worst hit, with Maruti Suzuki falling 4.6% on higher oil prices and reports of Delhi’s draft EV policy proposing broad exemptions to curb air pollution. Bajaj Finance (-2.8%), InterGlobe Aviation (-2.8%), Reliance Industries (-2.6%), Tata Consultancy Services (-2.1%) and HDFC Bank (-2.%) were also among the biggest laggards. The Indian stock market will remain closed on Tuesday, April 14, on account of Dr Baba Saheb Ambedkar Jayanti.