The Indian stock market witnessed a freefall on Monday with the BSE Sensex falling over 700 points so far.
The Nifty50 on the National Stock Exchange (NSE) also lost over 200 points to trade below the 9,800 level.
Indian indices fell tracking a decline in the Asian markets, as fresh cases of coronavirus cases surged across the world.
Stocks across sectors witnessed heavy selling led by the finance and banking stocks.
The Nifty50 on the National Stock Exchange was trading at 9,758.00, lower by 214.90 points or 2.15 per cent from the previous close of 9,972.90.
The Sensex was trading at 33,047.97, lower by 732.92 or 2.17 per cent from the previous close of 33,780.89.
It opened at 33,670.55 and has so far touched an intra-day high of 33,670.55 and a low of 33,005.68 points.
The major losers on the Sensex were IndusInd Bank, ICICI Bank and Axis Bank, while Mahindra & Mahindra was only gaining stock so far.
The fall in the domestic indices came on the back of a similar trend in the Asian markets as fresh coronavirus cases surged across the globe.
Heavy selling was witnessed in banking and finance stocks which pulled the indices lower.
The Sensex and Nifty extended losses led by declines in banking, financial services, metal and private banking shares.
The Indian rupee weakened by 10 paise to 75.94 against the US dollar, to quote at Dh20.69 in early trade. On Friday it closed lower at 75.84 per dollar.
