Sensex Plunges 1,500 Pts, Nifty Tanks 500 Pts; SmallCap Index Plummets 4%
Indian bourses retreated heavily at open on Monday, with BSE Sensex sinking 2,393 points to 78,588, while the Nifty50 index plunged 405 points to 24,302 levels.
However, shortly after the opening bell, the benchmark BSE Sensex regained some ground, trading 1,566 points lower to 7,9415 levels, while the Nifty 50 fell heavier to 24,236 levels, down 480 points or 1.95 per cent.
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On NSE, Hindalco, Maruti were top losers, falling 4 per cent each, followed by Tata Motors, Tata Steel, and Titan slipping 3 per cent each in early morning trade on Monday.
On BSE, Tata Motors was the top loser, down 4.20 per cent, followed by Tata Steel, Maruti, Adani Ports, SBI and JSW Steel down 3 per cent each.
In line with the benchmarks, the broader markets also showed weakness, with the MidCap index plummeting 3 per cent and the SmallCap index slipping 3.72 per cent.
Sectorally all indices were trading in red with Nifty Realty falling the steepest, down by 5 per cent, closely followed by Nifty Metal, Nifty Media, Nifty Auto dropping in the range of 3-4 per cent each.