Sensex plunges over 500 points on weak global cues

Indian equity markets ended sharply lower on Monday, with the benchmark Sensex plunging more than 500 points and the Nifty50 losing nearly 140 points as escalating concerns over the US-China trade dispute weighed heavily on investor sentiment.

Selling pressure was broad-based, with banking, consumer durables and automobile stocks among the sectors facing significant declines. The weak domestic session followed negative global cues, as investors remained concerned that an intensifying trade confrontation between the world's two largest economies could hurt global growth and corporate earnings.

At 3.30 p.m., the NSE Nifty50 provisionally settled at 11,377.75 points, down 137.45 points, or 1.19 per cent, from its previous close of 11,515.20.

The S&P BSE Sensex opened at 38,027.81 points and provisionally closed at 37,585.51, registering a decline of 505.13 points, or 1.33 per cent, from the previous close of 38,090.64.

During the session, the Sensex touched an intraday high of 38,027.81 points and slipped to a low of 37,548.93.

The sharp fall reflected growing risk aversion among investors, with concerns over the economic impact of higher tariffs and worsening trade relations prompting selling across several major sectors.

Market participants were also closely watching developments in global markets, as further escalation in the US-China trade conflict could increase volatility in equities and put pressure on emerging-market assets, including Indian stocks.