The equity markets crashed in Monday’s intra-day trading as the 30-share BSE Sensex was down more than 1,000 points at 12.10 pm.
The index was close to plunging below the 58,000-mark. The broader 50-share NSE Nifty had also lost over 1.8% and was trading under the 17,300-mark.
Mid- and small-cap shares were in the negative zone as Nifty Midcap 100 index fell 3.37 per cent and small-cap shares were trading 4.20 per cent lower.
The markets have been bleeding for a while now as Sensex had lost over 2,500 points in four trading sessions last week
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The downturn in the markets is largely due to a rise in treasury yields in the United States and concerns that the country’s Federal Reserve will increase key interest rates.
On the stock-specific front, JSW Steel was the top Nifty loser as the stock cracked 3.41 per cent to ₹ 643.55. Divi's Lab Hindalco, Bajaj Finserv and HDFC Life were also among the laggards.
Also, Zomato and Paytm shares fell 18.48 per cent and 5.64 per cent, respectively, to hit their lowest levels since listing.
The overall market breadth was weak as 496 shares were advancing while 2,992 were declining on BSE.