The S&P BSE Sensex and NSE Nifty 50 indexes crashed in trade on Monday as the government's Rs 20 lakh crore economic relief package failed to lift investors' sentiment. The Sensex dropped as much as 1,129 points and Nifty touched an intraday low of 8,806.75. Banking, financial services, auto, media and realty sector shares were the worst hit in trade.
The Sensex cracked 1,068.75 points or 3.44 per cent to close at 30,028.98 and the Nifty 50 index tumbled 3.43 per cent or 313.60 points to settle at 8,823.25.
"The government's economic relief package failed to lift the investors' sentiment causing a massive fall in markets despite the US stock futures rising over a per cent each," A K Prabhakar, head of research at IDBI Capital told NDTV over phone.
Nine of 11 sector gauges compiled by the National Stock Exchange ended lower led by the Nifty Private Bank index's 7 per cent fall. Nifty Bank, Financial Services, Auto, Media, Realty and PSU Bank indexes also fell between 5-7 per cent each.
On the other hand, Nifty IT index was top gainer, up nearly 1 per cent.
Mid- and small-cap shares also witnessed selling pressure as the Nifty Midcap 100 index fell 4.5 per cent and the Nifty Smallcap 100 index dropped 3.3 per cent.
HDFC Bank, HDFC, ICICI Bank, Kotak Mahindra Bank and Axis Bank were among the top drags on the Sensex, they collectively wiped out over 650 points from the 30-share index.
IndusInd Bank was top Nifty loser, the stock fell 10 per cent to close at Rs 378. Zee Entertainment, Eicher Motors, BPCL, UltraTech Cement, Maruti Suzuki, HDFC, Axis Bank and Bajaj Auto were the also among the losers down 7-9.5 per cent.
On the flipside, Cipla, TCS, Bharti Infratel, Infosys and HCL Technologies were among the notable gainers.
