Domestic markets extended their losses on Monday’s afternoon trade. Heavy selling was witnessed in auto, IT, FMCG, and banking stocks. However, metal stocks soared amid rising prices of metals.
The S&P BSE Sensex slipped 866.99 points or 1.70 per cent to trade at 50,022.77 levels with M&M being the top loser, slipping over 4.5 per cent.
The Nifty50 on the National Stock Exchange was trading at 14,758.50, lower by 223.25 points or 1.49 per cent from its previous close.
Other laggards included Tech Mahindra, Dr. Reddys Labs, Axis Bank, Power Grid, and Larsen, plunging from nearly 4 per cent to over 3 per cent on the BSE.
Of the 30 constituents, only four were trading in the positive territory with ONGC being the top gainer at 2.7 per cent up, followed by HDFC Bank, Kotak Mahindra and Bajaj Auto trading higher at 1.49 per cent, 0.11 per cent and 0.10 per cent respectively.
In the broader markets, the S&P BSE MidCap and SmallCap were down by 1.10 per cent and 0.66 per cent respectively.