The benchmark BSE Sensex plunged over 335 points to hit a fresh 19-month low and the NSE Nifty crashed below the 7,500-mark in early trade on Monday due to heavy selling by funds and investors tracking weak Asian markets amid persistent China fears.
The 30-share index was trading down by 335.43 points, or 1.34 per cent, to 24,598.90 with all sectoral indices led by metal, capital goods and PSU leading the fall with losses up to 2.29 per cent.
The Sensex had gained 82.50 points in the previous session on Friday.
On similar lines, the NSE Nifty dropped below the 7,500-mark by falling 105.70 points, or 1.39 per cent, to 7,495.65.
Brokers said sentiment dampened following other Asian markets amid unabated China fears which led to massive losses on global markets last week, overshadowing a strong US jobs report.
Furthermore, the depreciating rupee against the dollar also negatively impacted sentiment in the domestic market, they added.
In the Asian region, Hong Kong’s Hang Seng fell 2.61 per cent in early trade, while Shanghai composite index plunged 2.40 per cent. Japan’s market remained closed on Monday for a public holiday.
The US Dow Jones Industrial Average ended 1.02 per cent lower on Friday’s trade.