Indian share benchmarks on Monday heavily plunged with the rupee falling to a new low as rising US inflation data and a COVID-19 warning from Beijing roiled global markets, with traders looking for more clues in May consumer pricing data. Global risk aversion contributed to a drop in equities markets across the region, with the BSE share index and the NSE share index both down more than 2.5 percent.

As investors expected inflation data, the 30-share BSE Sensex fell 1456.74 points to 52,846.70, while the broader NSE Nifty fell 2.6 percent to 15,774.4, its lowest level since July 2021.  The top laggards in the Sensex pack were Bajaj Finserv, Bajaj Finance, IndusInd Bank, Tech Mahindra, ICICI Bank, TCS, NTPC, Infosys, and State Bank of India.

Information technology companies on the Nifty fell 4.1 percent in Mumbai trading, leading sectoral losses. Infosys Ltd and Tata Consultancy Services, both sector heavyweights, lost 3.5 percent and 4.2 percent, respectively.
The largest losers on the NSE were Bajaj Finserv and Bajaj Finance, which fell nearly 7% and 5%, respectively. The NSE bank index dropped 3.1%.

On Friday weekend, the BSE benchmark closed at 54,303.44, down 1,016.84 points or 1.84 percent. The Nifty fell 276.30 points, or 1.68 percent, to 16,201.80 on the NSE

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