Benchmark BSE Sensex on Monday suffered its worst single-day loss in seven months, extending its fall for a fifth day due to a meltdown in banking and auto stocks on liquidity concerns and a rout in global markets.
The 30-share index tanked 536.58 points or 1.46 per cent to settle at a two-month low of 36,305.02, logging its biggest single-day loss since February 6 when it declined by 561.22 points.
This is the weakest closing since July 11 when it settled at 36,265.93.
The index dropped a total 1,785.62 points or more than 5 per cent in five sessions, wiping out Rs 8.48 lakh crore of market wealth.
Factors like crude oil prices hitting a four-year high, liquidity concerns after defaults by IL&FS, the rupee retreating a low of 72.73 against the US dollar beset investors.
The broad-based Nifty of the National Stock Exchange crashed below the 11,000 mark, declining by 168.20 points or 1.51 per cent to end at 10,974.90.
