The S&P BSE Sensex experienced a significant decline of 924.47 points (1.20%) to 76,399.71 in mid-morning trading, driven by escalating tensions in the Persian Gulf following U.S. President Donald Trump's rejection of Iran's peace proposal. The Nifty 50 index also fell 253.30 points (1.05%) to 23,922.85. Realty shares were particularly hard hit, with the Nifty Realty index down 2.28%. Prime Minister Narendra Modi responded to rising energy prices by urging citizens to adopt austerity measures, including reducing fuel consumption and avoiding non-essential imports. This comes as the broader market showed weakness, with 2,672 shares declining against 1,371 that rose. In the global context, Asian markets reacted mixed to rising oil prices and geopolitical tensions, with China's inflation surpassing estimates. The ongoing U.S.-Iran conflict continues to stoke concerns about energy costs and market stability.