Equity indices plunged on Monday with the benchmark BSE Sensex falling more than 1,100 points. As of 12:27 pm, the 30-share BSE index was down 1,120 points or 1.88 percent to 58,516; while the broader NSE Nifty moved 326 points or 1.83 percent lower to 17,439.
Major laggards in the BSE pack included Reliance Industries (RIL), Maruti, Bajaj Finance, Kotak Mahindra Bank, HCL Tech, Bajaj Finserv and SBI with their shares down as much as 6.01 percent.
On the NSE platform, all the sub-indices were trading in red with Nifty Auto and Nifty PSU Bank down as much as 3.84 percent.
RIL shares tumbled after the Mukesh Ambani-led company and Saudi Aramco have decided to re-evaluate the proposed Investment by Aramco in the oil-to-chemical (O2C) business. In August 2019, RIL and Aramco had signed a letter of intent for the latter to potentially acquire a 20 percent stake in the Ambani-led firm.
Shares of Maruti slipped as the carmaker has ruled out getting back into the diesel segment.
On Thursday, NSE Nifty had closed 133 points lower at 17,764; while BSE Sensex had dropped 372 points to settle at 59,636.