Bears on prowl: Indices retreat most in 7 months, RIL falls over 4%

Reliance's decline, rollback of farm laws weigh on investor sentiment

The Indian markets posted their sharpest decline in nearly seven months on Monday as a tsunami of factors impacted investor sentiment. 

Paytm’s listing fiasco, the sharp drop in shares of index heavyweight Reliance Industries (RIL), and the rollback of farm laws were among the domestic factors that weighed on sentiment. The resurgence of Covid-19 in Europe and fears around US tapering, too, played on investors' minds.

In intraday trade, the Sensex dropped as much as 1,624 points, or 2.7 per cent. The 30-share index recouped some losses to end at 58,466, down 1,170 points, or 1.96 per cent, wiping Rs 8.2 trillion