Coronavirus fears continued to weigh on the investor sentiments as the BSE Sensex plunged over 2,100 points on Monday. The Nifty50 on the National Stock Exchange also dropped over 500 points to fall below the 9,500 mark.
At 9.37 am, the Sensex was trading at 31,960.19, lower by 2,143.29 or 6.28 per cent from the previous close of 34,103.48. It opened at the intra-day high of 33,103.24 and has touched a low of 32,206.23 points.
The Nifty50 was trading at 9,358.95, lower by 596.25 points or 5.99 per cent from its previous close. The fall in the domestic indices was in line with the decline in Asian markets.
Disruptions caused by the virus
Further spooking investors was data out of China that showed the country's industrial output contracted at the sharpest pace in 30 years in the first two month of the year due to the disruptions caused by the virus.
Lockdowns and travel bans spread across the globe over the weekend, affecting tens of millions of people. On the blue-chip Nifty 50 index, Yes Bank Ltd was the only stock trading in positive territory, surging nearly 45%.
Miner Vedanta Ltd dropped more than 7% and was the biggest loser on the index. The Nifty Metal index slipped 6.58%. Shares of cinema hall chains Inox Leisure Ltd and PVR Ltd plunged 15% and 20%, respectively. India on Friday directed theatres to remain closed in some states in a move to contain the spread of the virus.
Shares of IndusInd Bank Ltd slid over 9% while those of State Bank of India was down 8%. Oil-to-retail conglomerate Reliance Industries Ltd fell as much as 5.4%