The Benchmark index of Bombay Stock Exchange (BSE), Sensex fell as much as 701 points on Moday at 36,443.41.
The National Stock Exchange (NSE) benchmark index, Nifty slumped below its important psychological level of 10,800. Asian shares slid to 6-1/2-month lows on Monday and the Yuan plummeted to a more than decade trough as a rapid escalation in the Sino-US trade war. The market sentiment also took a knock after prominent leaders in Jammu & Kashmir were kept under house arrest and Home Minister Amit Shah proposed to scrap Article 370 of constitution which gives special status to the state of Kashmir, analysts said.
The sectoral indices that dragged the market were Energy, Industrials, Utilities, Auto, Bankex, Capital Goods, Consumer Durables, Oil & Gas, Power and Realty.
Top losers were Yes Bank, Tata Motors, Vedanta, JSW Steel, State Bank of India, Tata Steel, Power Grid, Hindalco, Indiabulls Housing Finance, ICICI Bank, Bharat Petroleum, ONGC and Reliance Industries.