Mumbai: The BSE Sensex on Monday nosedived 870.51 pts to close at 49,159.32 following selling in Realty, Bankex, Finance, Auto and Consumer Durable stocks.
The Nifty too fell by 229.55 pts to 14,637.80.
The equity market crashed due to a record jump in the Covid-19 cases in the country which led to lockdown-like restrictions in the economically important state of Maharashtra.
Apart from this, a weak PMI manufacturing print for March further raised concerns about the pace and strength of the economic recovery.
The day opened on a weak note as the Sensex fell 9 pts to 50,020.91. During the day it plummeted 1649 pts to 48,580.80, days low. In late trade it was slightly improved from days low, but ended in negative only at 49,159.32, sliding 870.51 pts from its previous close.
The Sensex registered days high and low at 50,028.67 and 48,580.80 pts respectively.
The Nifty recorded days high and low at 14,849.85 and 14,459.50 pts respectively.
Growth in manufacturing activities slowed to the lowest rate in seven months as increasing Covid cases hit demand. PMI fell from 57.5 in February to 55.4 in March.
The sectoral indices like Realty, Bankex, Finance, Auto and Consumer Durable dragged the market.
In scrips, Bajaj Finance, IndusInd Bank, SBI, M& M and Axis Bank declined while buying in HCL Technologies, TCS, Infosys, Bharti Airtel and Tech Mahindra capped from further losses, the broker said.
The Mid Cap slipped by 1.13 pc and Small Cap by 1.08 pc.
In 30 scrips, 5 advanced while 25 declined.