Closing Bell: Market witness heavy sell-off for 2nd day in row; Sensex down 1450 points, Nifty below 15800-level - Bajaj twins top losers

The Indian markets extended their falling streak for the second day in a row on Monday as the Sensex declined by over 1450 points and Nifty50 settled below 15800- mark. The massive sell-off in the market was mainly because of the weak global cues, FII outflows and record low rupee. 

At the market close, the BSE Sensex tumbled 1457 points or 2.68 per cent to 52846.7 levels, while Nifty50 down 427 points or 2.64 per cent to 15774-mark. The broader markets underperformed the benchmarks as both mid and small-cap plunged nearly 3 and 4 per cent respectively at the close. 

Mere 2 stocks closed in the green, while 48 stocks out of 50 on Nifty ended in the red. Bajaj twins – Bajaj Finserv and Bajaj Finance plummeted most by around 7 and 5.5 per cent, touching their 52-week lows respectively, followed by Tech Mahindra, and Tata Motors each down over 5 per cent.

Other heavyweights such as IndusInd Bank, Hindalco, ICICI Bank, BPCL, Adani Ports, TCS, and NTPC were each down between 4-5 per cent at the market close. While Coal India, L&T, SBI, Infosys, Wipro, and ONGC tumbled in the range of 3-4 per cent at the close.

On the contrary, Nestle India and Bajaj Auto were the only two stocks on Nifty that closed positive in an otherwise weak market, former gained 0.5 per cent latter up by 0.1 per cent at the close.

All sectoral indices ended their Monday session in the red, with Nifty IT declining most by over 4 per cent, followed by Nifty Metal down by almost 4 per cent. While Nifty Realty, Media, Bank, and Financials each were down over 3 per cent in a heavy sell-off market today.