After a big growth in the previous two sessions, the Sensex and Nifty dipped on Monday. The Indian equity benchmarks fell sharply, interrupting a two-day advance, as oil prices rose due to the ongoing war in Ukraine. Crude oil prices have risen above $110 per barrel, raising concerns about rising inflation.

The 30-share BSE Sensex fell 571 points, or 0.99 percent, to end the day at 57,292, while the broader NSE Nifty fell 169 points, or 0.98 percent, to 17,118. In the preceding two sessions, both indices had gained more than 3.50 percent. Mid- and small-cap stocks ended the day with mixed results, with the Nifty Midcap 100 index falling 0.28 percent and small-cap stocks up 0.23 percent.

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Gains in metal stocks were offset by losses in bank and consumer goods sectors during today's session.The National Stock Exchange's 15 sector gauges closed the day in the red, with 12 of them. Nifty Bank and Nifty FMCG fell 1.13 percent and 1.72 percent, respectively, underperforming the index. Nifty Metal, on the other hand, increased by 1.50 percent.

PowerGrid, Asian Paints, UltraTech Cement, Nestle India, Hindustan Unilever, HCL Tech, SBI, and Bharti Airtel were among the top losers on the 30-share BSE index. On the other hand, Sun Pharma, HDFC Bank, Maruti Suzuki India, Titan, and NTPC ended the day in the green.