Key benchmark indices continued to remain weak on Monday with the Sensex and Nifty falling over 1 percent each, dragged down by bank stocks and negative global market trends. 

 The 30-share BSE Sensex fell 872.28 points or 1.46 percent to close at 58,773.87 after opening the trade on a shaky tone. It fell 941.04 points, or 1.57%, throughout the day to 58,705.11.

The NSE Nifty  lost 267.75 points, or 1.51%, to close at 17,490.70. The Sensex pack's biggest laggards included Tata Steel, Asian Paints, Larsen & Toubro, Wipro, UltraTech Cement, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Kotak Mahindra Bank, and Axis Bank. ITC and Nestle India, on the other hand, ended higher.

Asia's markets saw lower closing prices in Seoul, Tokyo, and Hong Kong, while Shanghai closed in the black. During mid-session trades, stock markets in Europe were trading lower. Wall Street had a lower Friday closing price.

Brent crude, the international standard for crude oil, was down 0.95 percent at USD 95.80 per barrel. According to exchange data, foreign institutional investors (FIIs) became net purchasers on Friday, purchasing shares worth Rs 1,110.90 crore.

The US dollar hit a new five-week high against major peers on Monday after more Federal Reserve officials flagged the possibility of continued aggressive monetary tightening ahead of the central bank's key Jackson Hole symposium this week.

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