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The key benchmark indices, the Sensex and the Nifty, logged heavy losses in intra-day trade on Monday amid a broad-based sell-off. The Sensex plunged as much as 1,600 points in intraday. Among stocks, index heavyweight Reliance Industries (RIL) was the major dragger after the company over the weekend called-off its deal with Saudi Aramco to divest 20 per cent stake in its oil to chemicals business.
However, Reliance alone was not accountable for the day’s fall – the broader markets too logged heavy losses, with the BSE Midcap and Smallcap indices both down around 2.5 per cent each.
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