Sensex plummets 812 points on global selloff; Nifty cracks below 11,300

Domestic equity benchmark Sensex plunged 812 points on Monday, led by losses in Reliance Industries, ICICI Bank and Bharti Airtel amid a massive global selloff.

The 30-share BSE index ended 811.68 points or 2.09 per cent lower at 38,034.14. The NSE Nifty tumbled 254.40 points or 2.21 per cent to finish at 11,250.55.

IndusInd Bank was the top loser in the Sensex pack, tanking over 8 per cent, followed by Bharti Airtel, Tata Steel, ICICI Bank, M&M, Maruti, Axis Bank and ONGC.

On the other hand, Kotak Bank, Infosys and TCS were the gainers.

According to traders, domestic equities followed the sudden selloff in global benchmarks amid concerns over rising COVID-19 cases in Europe.

Bourses in Shanghai, Hong Kong and Seoul ended significantly lower.

Stock exchanges in Europe witnessed heavy selloff in opening trade, declining up to 3 per cent.

Meanwhile, global oil benchmark Brent crude was trading 2.04 per cent lower at USD 42.27 per barrel.

In the forex market, the rupee strengthened 7 paise and closed at 73.38 against the US dollar.