Benchmark indices Sensex and Nifty fell sharply in early trade on Monday, weighed down by weak global trends and persistent foreign fund outflows.
The rise in Brent crude to USD 81 per barrel, coupled with strong US jobs data that tempered expectations of an early rate cut, also dampened investor sentiment.
Among the 30 blue-chip stocks, Asian Paints, Zomato, Mahindra & Mahindra, HDFC Bank, Bajaj Finance, Kotak Mahindra Bank, and Tata Steel were the top losers. Meanwhile, IndusInd Bank, Axis Bank, Tata Consultancy Services, and Hindustan Unilever saw gains.
Meanwhile, the rupee plunged 27 paise to a new all-time low of 86.31 against the US dollar, pressured by a strong American currency amid volatile global cues.
On Friday, the rupee had already fallen by 18 paise, closing at 86.04 against the dollar.