Indian equity benchmarks suffered sharp losses in an across-the-board sell-off on Monday. Both Sensex and Nifty50 indices tumbled two percent in the worst day on Dalal Street since April 19, extending losses to the fourth day in a row. Financial, oil & gas, automobile and IT shares were the worst hit.
The 30-scrip index shed 1,170.1 points to end at 58,465.9, having hit 58,011.9 at the intraday low. The broader Nifty50 benchmark settled at 17,416.6, shedding 348.3 points from its previous close.
The Sensex is now 3,779.5 points or 6.1 percent below an all-time hit on October 19, and the Nifty50 1,187.9 points or 6.4 percent. The market crash comes days after many foreign brokerages lowered their ratings on Indian equities, advising their international clients to book profits.
Most analysts fear the consolidation phase in the market may continue for some time, but should lead to more reasonable moves going forward. The headline indices have been rising for much of the past 18 months in a liquidity-driven rally, breaking a series of records.
Here's a look at the worst days on Dalal Street in the recent past, wherein the Nifty50 has crashed 1.5 percent or more:
(Edited by : Ajay Vaishnav)