Equity benchmark Sensex tumbled over 300 points in early trade on Monday dragged by losses in index-heavyweights HDFC twins, ICICI Bank and Infosys amid negative cues from global markets.
The 30-share index was trading 323.91 points, or 0.92%, lower at 34,847.36, while the NSE Nifty fell 83.65 points, or 0.81%, to 10,299.35.
Bajaj Finance was the top loser in the Sensex pack, dropping around 4%, followed by Axis Bank, IndusInd Bank, ICICI Bank, SBI, HDFC duo and Infosys. On the other hand, ITC, Sun Pharma, Nestle India and PowerGrid were among the gainers.
In the previous session, the BSE barometer closed 329.17 points, or 0.94%, higher at 35,171.27, and the broader Nifty surged 94.10 points, or 0.90%, to finish at 10,383.
Foreign institutional investors were net sellers on Friday, offloading equities worth ₹753.18 crore, provisional exchange data showed.
According to traders, unabated rise in COVID-19 cases across the world weighed on investor sentiment.
Further, geopolitical tensions like India-China border issue and U.S.-China trade tiff also kept participants on edge, traders said.
Bourses in Shanghai, Hong Kong, Japan and Seoul were trading with significant losses.
Meanwhile, international oil benchmark Brent crude futures fell 1.69% to $40.24 per barrel.