The benchmark equity indices on the BSE and National Stock Exchange (NSE) continued their losing streak for the fifth straight day, crashing over 2.5 per cent on Monday, led by a selloff across all the sectors amid weakness in the global market.

The S&P BSE Sensex crashed 1,545.67 points (2.62 per cent) to end at 57,491.51 while the Nifty 50 fell 468.05 points (2.66 per cent) to settle at 17,149.10. Both the indices had opened around 0.4 per cent lower earlier in the day and during the intraday fell as much as 3.5 per cent.

On the Sensex pack, all the stocks ended in the red. Tata Steel and Bajaj Finance were the worst performers of the day falling nearly 6 per cent, followed by Wipro, Tech Mahindra, Titan Company, Reliance Industries (RIL), HCL Technologies, Kotak Mahindra Bank, Bajaj Finserv and Asian Paints.

All the sectoral indices on NSE ended lower on Monday with the Nifty Realty index falling 5.90 per cent dragged by Sunteck Realty, Godrej Properties and Sobha. The Nifty Metal index too crashed 5.23 per cent weighed by Hindustan Copper and JSW Steel. Apart from these, the Nifty IT index too declined 3.42 per cent due to a fall in Coforge and Larsen & Toubro Infotech.

The broader market indices too underperformed their benchmark peers with the S&P BSE MidCap index falling 952.94 points (3.82 per cent) to 23,998.73 while the S&P BSE SmallCap crashed 1,328.98 points (4.43 per cent) to end at 28,638.23.

Global market

On the global front, shares were mixed Monday in Asia after Wall Street logged its worst week since the pandemic began in 2020.

Benchmarks declined in Hong Kong, Seoul and Sydney but rose in Tokyo. Shanghai was little changed. US futures were higher.

Investors have been growing increasingly worried about how aggressively the Federal Reserve, which holds a policy meeting this week, might act to cool rising inflation.

Tokyo’s Nikkei 225 index edged 0.2 per cent higher to 27,588.37, while the Hang Seng in Hong Kong shed 1 per cent to 24,721.49. In Australia, the S&P/ASX 200 lost 0.5 per cent to 7,139.50. South Korea’s Kospi dropped 1.5 per cent to 2,794.26 on heavy selling of big technology companies like Samsung and LG Chemical. Thailand’s SET lost 0.6 per cent. The Shanghai Composite index gained less than 0.1 per cent, to 3,524.11.