Bears tighten grip with biggest fall in 9 months

U.S. President Donald Trump imposed a 27pc tariff on Indian imports like rice, shrimp, and buffalo meat, potentially hitting export revenues, employment, and investor sentiment hard

- STATESMAN NEWS SERVICE

Ears on Monday tightened their hold on Dalal Street as benchmark indices witnessed their biggest fall in 10 months.

At close, the Sensex was down 2,226.79 points or 2.95 per cent at 73,137.90, and the Nifty was down 742.85 points or 3.24 per cent at 22,161.60. Sensex crashed nearly 4,000 points, while the Nifty 50 dropped below 21,750 in early deals.

The BSE Midcap and Smallcap indices closed with losses of 3.46 per cent and 4.13 per cent, respectively.

The selloff eroded investors' wealth by more than Rs 12 lakh crore, as the market capitalization of BSE-listed companies slipped to Rs 390 lakh crore, from Rs 403 lakh crore in the previous session.

The volatility index India VIX surged 66 per cent to 22.8, indicating extremely high nervousness in the market.