New Delhi: After opening flat on Monday, Sensex tanked over 1350 points while Nifty fell below the 13,500 level. The market witnessed a sharp downturn in the afternoon hours on Monday after European markets opened weak as a fast-spreading new coronavirus strain dampened investor sentiment. Restrictions in Europe and likely fallout in Brexit negotiations dampened the morale on Dalal Street.

At 2:30 pm, the BSE S&P Sensex has tanked over  1,350 points or 2.87 per cent at 45,611 while the Nifty 50 fell by 327 points or 2.38 per cent to 13,433. All sectoral indices at the National Stock Exchange were in the red with Nifty PSU bank dipping by 4 per cent, private bank by 2.2 per cent, metal by 3.8 per cent and auto by 2.8 per cent. Aviation stocks were under pressure over restrictions in Europe with SpiceJet falling by 9.5 per cent to Rs 91.90 per share while InterGlobe Aviation cracked by 6.4 per cent to Rs 1,543.90.

Energy majors too were on a weak wicket as global oil prices dropped by about 3 per cent. ONGC fell by 8.4 per cent to Rs 90.65 per share while GAIL dipped by 7.6 per cent. IndianOil Corporation and Bharat Petroleum Corporation retreated by 6.8 per cent and 5.3 per cent respectively. The other key losers include NTPC, Reliance Industries, Mahindra & Mahindra, Hindalco, IndusInd Bank and State Bank of India.

Also Read: 

GMR Infra gets approval from bourses on proposed rejig plan

EPFO new enrolments increase 56pc to 11.55 lakh in Oct 2020

Relief to Amazon from Delhi HC, dismisses petition of Future Group