A benchmark index of Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), plunged over 305 points or 1.00 percent during the mid-afternoon trade session on Monday.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading in the red. It was down 80 points or 1.00 percent at 8,379.15 points.
The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,893.25 points, was trading at 27,650.76 points (at 1.30 p.m.), down 306.74 points or 1.10 percent from the previous day's close at 27,957.50 points.
The Sensex has touched a high of 27,903.29 points and a low of 27,624.58 points in the intra-day trade so far.
According to Angel Broking, Indian markets opened on a positive note tracking SGX Nifty and most of Asian markets. The US markets had closed in the red on Friday after hawkish remarks from Federal Reserve chair Janet Yellen, who said the central bank will likely raise interest rates this year.
Sector-wise, capital goods, metals, fast moving consumer goods (FMCG), banks, healthcare and information technology (IT) came under intense selling pressure.
However, healthy buying was observed in oil and gas sector.
The S&P BSE capital goods index decreased by 176.86 points, metal index receded by 130.89 points, FMCG index declined by 119.31 points, banking index fell by 97.85 points, healthcare index was lower by 83.17 points and IT index was down 78.11 points. However, oil and gas index gained by 15.43 peoints.