Closing Bell: Sensex, Nifty close nearly 2.5% amid massive sell-off; Banking and financial stocks drag

The Indian markets on Monday witnessed massive sell-off amid high volatility, as Sensex fell almost 1500 points, while Nifty settled below 15900-mark at the close. The weakness in the market is led by ongoing geopolitical tensions between Russia-Ukraine that has pushed to oil price to multi-year high. 

At the close, Sensex tumbled over 1491 points or 2.74 per cent to 52843, while Nifty50 closed 382 points or 2.35 per cent lower to 15,863. Similarly, the broader markets – mid and small-cap – followed the benchmark suites to end over 2 per cent lower at the market close.

As many as 11 stocks closed in the green, while 39 in the red on Nifty at the close. Banking and Financial shares such as IndusInd Bank become the top laggard to end over 7.5 per cent lower, followed by Axis Bank Bajaj Finance and Bajaj Finserv along with Maruti and Britannia each down between 6-7 per cent at the market close. 

On the contrary, Oil and Natural Gas Corporation became the top gainer, up almost 13 per cent followed by Hindalco up over 6 per cent, Coal India up over 4 per cent and Bharti Airtel up almost per cent at the market close on Monday.