On Monday, the equity benchmark indexes fell for the second day in a row, with the Sensex falling 617.26 points, while the Nifty 50 index fell 218 points, or 1.27 percent, to 16,953.95, as strong selling in market leader Reliance Industries and bearish global cues weighed on the market. Foreign fund withdrawals were unabated, adding to the gloomy mood.
The benchmark Sensex on the BSE fell 617.26 points, or 1.08 percent, to 56,579.89. It fell 840.28 points, or 1.46 percent, to 56,356.87 during the day.
As weakness in global equities hurt investors' morale, stocks fell across the board, pulled down by intense selling pressure in IT, FMCG, and metal companies, extending their losses from the previous trading session.
Tata Steel, Tech Mahindra, NTPC, Reliance Industries, Titan, ITC, Larsen & Toubro, and Sun Pharma were the top laggards among the 30-share Sensex group. HDFC Bank, ICICI Bank, HDFC, Kotak Mahindra Bank, Nestle, Maruti Suzuki, and Bharti Airtel, on the other hand, saw their stock prices rise.
In the afternoon session, European markets were also trading in the red. Tokyo, Hong Kong, Seoul, and Shanghai all ended the day with heavy losses.
Meanwhile, Brent crude, the international oil standard, fell 4.44 percent to USD 101.92 per barrel. According to stock market statistics, foreign institutional investors maintained their selling binge on Friday, unloading shares worth Rs 2,461.72 crore.
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