MARKET LIVE: Sensex tanks 1,000 pts, Nifty below 14,350; India VIX up 11%

LIVE market updates: The benchmark indices traded 2 per cent lower in Monday's noon deals as another record spike in daily ovid-19 cases spooked investors. India recorded over 2.75 lakh new Covid cases in last 24 hours, as per Worldometer.

The S&P BSE Sensex traded around 47,780 levels, down 1,080 points. The index had fallen to as low as 47,363 in intra-day deals. The Nifty50 index fell below the 14,350-mark. IndusInd Bank fell 5 per cent and was the top Sensex laggard, followed by State Bank of India, Bajaj Auto, Bajaj Fiannce, and ICICI Bank (down 4% each).

The Nifty sectoral indices, except Nifty IT and Pharma, were painted red, with Nifty PSU Bank index, down 4 per cent, bleeding the most.

In the broader markets, the S&P BSE MidCap and SmallCap indices fell 1.7 per cent, each.