India market continues to bleed, Sensex down by over 2000 points

Around 1.05 pm, the BSE Sensex dropped by 2016.17 points to stand at 35560.45 points.

The Nifty of National Stock Exchange (NSE) too fell 516.30 points to touch 10473.15 points.

The sectoral indices like Metal was worst hit, down by more than 5 per cent followed by Energy, Industrials, Bankex and Utilities in early trade.

The losers were ONGC by 11.39 per cent to Rs 79, IndusInd Bank by 7.55 per cent to Rs 937.70,

Reliance Industries by 7.21 per cent to Rs 1178.50, L&T by 6.81 per cent to Rs 1080 and Tata

Steel by 6.16 per cent to Rs 329.55.

Meanwhile, shares of YES Bank gained 40 per cent to Rs 22.60 in the early morning deal on the NSE on Monday after the government-owned State Bank of India (SBI) said it will pick a 49 per cent stake in the troubled private lender as part of a revival scheme framed by the Reserve Bank of India (RBI).

The broader Nifty50 index slipped below the 10,600 levels, down 390 points, or 3.56 per cent. All the Nifty sectoral indices were in the red. Nifty Metal index, down 4 per cent, bled the most.

In the broader market, the S&P BSE MidCap index was down 340 points, or 2.38 per cent, and the S&P BSE SmallCap index dipped 308 points, or 2.3 per cent.