Bears take hold of market, Sensex crashes 1,100 pts
The Indian stock market is on a bear run now with the BSE Sensex losing over 1,100 points on Monday largely following a global sell-off.
Globally, markets have taken to consolidation after the recent surge to record highs amid rising bond yields and weakening dollar.
The across-the-board sell-off in the Indian indices was led by auto, health care, FMCG and IT stocks.
The Sensex closed at 49,744.32, higher by 1,145.44 points or 2.25 per cent from its previous close of 50,889.76 points.
It had opened at 50,910.51, and has touched an intra-day high of 50,986.03 and a low of 49,617.37 points.
The Nifty50 on the National Stock Exchange was trading at 14,675.70, lower by 306.05 points or 2.04 per cent from its previous close.
The major losers on the Sensex were Mahindra & Mahindra, Tech Mahindra and IndusInd Bank, while the only top gainers were ONGC, HDFC Bank and Kotak Mahindra Bank.