Sensex, Nifty heavily Plunge, see top losers today

As red-hot US inflation fanned fears of even more aggressive Federal Reserve policy tightening, and Beijing's continued COVID-19-led lockdowns added to global economic concerns, Indian share indexes fell and started Monday on a sour note after plummeting last week.

The 30-share BSE Sensex fell over 1537 points to 52,766 in during morning trade today, while the broader NSE Nifty fell more than 2.8% or 432 points to 15,768-level, as investors awaited inflation data later in the day.

In early trade, all 30 companies in the Sensex pack were trading lower, with Bajaj Finserv, Bajaj Finance, ICICI Bank, State Bank of India, Reliance Industries, Kotak Mahindra Bank, Tech Mahindra, and IndusInd Bank emerging as the biggest laggards.

Index majors are showing signs of weakness. Domestic equity markets were also pulled down by Reliance Industries and ICICI Bank.

The sharp drop in India's equity benchmarks resulted in a valuation loss of 3.11 lakh crore in last Friday's session, with all BSE-listed businesses' market capitalization plunging to 2,51,84,358.86 crore. Last week, the market capitalization of India's top ten most valuable companies fell by about 2.3 lakh crore as a result of the stock market's decline.

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