Equity benchmark indices plunged after opening on a flat note in Monday's morning trade despite good corporate results last week.
At 10:15 am, the BSE S & P Sensex was down 296 points at 38,844 while the NSE Nifty 50 fell 102 points to 11,651.
All sectoral indices were in the red except IT with realty losing 2.13 per cent and public sector banks 1.31 per cent.
Among stocks, Bharat Petroleum was down 4.7 per cent, Indian Oil 3.4 per cent, Indiabulls Housing Finance and Yes Bank both nearly 3 per cent. Heavyweight Reliance Industries too was down by 2.3 per cent.
However, Power Grid, Tata Consultancy Services, Wipro, Tech Mahindra and HCL Tech showed marginal gains.
Meanwhile, Asian equity markets were subdued as investors awaited the resumption of trading in major centres from the Good Friday holiday.
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