Benchmarks bleed: Sensex tanks 1,546 pts, Nifty ends below 17,200
This was the biggest single-session fall for both Sensex and Nifty since November 26 last year and also fifth straight session of loss for indices
Mumbai: The domestic equity market on Monday logged the steepest single-day drop in about two months, with the benchmark Sensex crashing nearly 1,546 points to crack below the 58,000-level due to panic selling across counters tracking subdued global stocks.
Investors have become poorer by a massive Rs 19,50,288.05 crore as equity market sell-offs continued for the fifth day in a row.
The BSE Sensex started the session on a weak note and got further overwhelmed by panic selling as the trade progressed and tanked over 2,050 points to touch the day's low at 56,984. Recouping some lost ground towards the fag-end, the index finally settled at 57,491.51 clocking a massive 1,545.67 points or 2.62 per cent drop.
Likewise, the NSE Nifty slumped 468.05 points or 2.66 per cent to settle at 17,149.10.
This was the biggest single-session fall for both Sensex and Nifty since November 26 last year and also the fifth straight session of loss for the indices.
On the Sensex chart, Tata Steel was the top loser, shedding around 6 per cent, followed by Bajaj Finance, Wipro, Tech Mahindra, Titan, Reliance Industries and HCL Tech.
Elsewhere in Asia, bourses in Hong Kong and Seoul ended with losses, while Tokyo and Shanghai were positive.
Equities in Europe were witnessing intense selling pressure in mid-session deals.
Meanwhile, international oil benchmark Brent crude rose 0.32 per cent to $88.17 per barrel.
