5 reasons why the BSE Sensex, Nifty50 tanked in trade on Monday

The BSE Sensex plunged over 1,600 points, while the NSE Nifty dropped below the 17,500-mark in a broad-based sell off.

The key benchmark indices, the Sensex and the Nifty, logged heavy losses in intra-day trade on Monday amid a broad-based sell-off. The Sensex plunged as much as 1,600 points in intraday. Among stocks, index heavyweight Reliance Industries (RIL) was the major dragger after the company over the weekend called-off its deal with Saudi Aramco to divest 20 per cent stake in its oil to chemicals business.

However, Reliance alone was not accountable for the day’s fall – the broader markets too logged heavy losses, with the BSE Midcap and Smallcap indices both down around 2.5 per cent each.

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