Sensex plunges 505 points; Nifty ends at 11,377
Sensex, Nifty
The Sensex closed Monday's trade 505.13 points, or 1.33% lower at 37,585.51 points.
The stock markets underwent intense selling pressure on Monday which sent the benchmark Sensex of the BSE tumbling down over 500 points.
BSE Sensex closed lower by 505.13 points, or 1.33%, to 37,585.51, while the Nifty 50 fell 137.45 points, or 1.19%, to close at 11,377.75.
Meanwhile, BSE MidCap and SmallCap were down 0.76% and 0.05%, respectively.
Sixteen out of 19 sectoral indices on BSE declined with finance losing most at 1.44% followed by energy 1.30% and energy 1.20%. On the other hand, realty gained 1.36%. Power and utilities also ended with gains.
BPCL, HPCL, TCS, Tech Mahindra and Power Gird were among the top gainers, whereas Sun Pharma, HDFC, Tata Motors, Bajaj Finance and Titan were among the major losers.
The rupee weakened against the dollar despite the government measures.
Moreover, continued selloffs in global markets also added pressure. European shares followed Asian counterparts lower as investors grappled with the latest US threat to announce a new round of tariffs on Chinese goods in the latest escalation of their trade conflict.