Market closing: On Monday, Indian market benchmarks fell sharply, extending their losses for the third day in a row amid selling across all sectors. State-owned banks, on the other hand, soared on the basis of solid quarterly earnings. The benchmark BSE Sensex fell 1,024 points, or 1.75 percent, to end the day at 57,621, while the broader NSE Nifty fell 303 points, or 1.73 percent, to 17,214.

Mid- and small-cap stocks ended the day in the red, with the Nifty Midcap 100 index down 1.03 percent and small-cap stocks falling 1.34 percent.

Tata Consumer Products was the worst performer on the Nifty, falling 3.87 percent to 705.40. Among the laggards were L&T, HDFC Bank, Britannia, and HDFC Life.

Except for the Nifty PSU Bank, 14 of the NSE's 15 sub-indices finished in the red. On the NSE index, PowerGrid, ONGC, Tata Steel, NTPC, and SBI were among the gainers.

HDFC Bank, L&T, Bajaj Finance, Bajaj Finserv, Titan, Kotak Mahindra, and HDFC Bank suffered the greatest losses on the Sensex, with their shares falling as much as 3.65%. On the BSE, the overall market breadth was modest, with 1,412 shares rising and 2,098 falling.

Market Mid-session: Sensex falls 695-pts HDFC Ban lose, Tata Steel surge

Crypto Markets surge marginally in green, Bitcoin, Ethereum rise

India will increase its oil and gas exploration: Petroleum Ministry