Sensex down 1457pts, Nifty gives up 15800 on global rout, ahead of CPI data

CLOSING BELL: The top laggards were Bajaj Finserv, IndusInd Bank, Bajaj Finance, Hindalco, Tech M, Tata Motors, ICICI Bank, Adani Ports, NTPC, and TCS

CLOSING BELL

Stock market highlights: A global rout in world equities engulfed Indian stocks on Monday as investors across the world shunned risky assets. Meanwhile, bond yields rose and emerging markets' currencies hit fresh lows against the US dollar.

The havoc comes after after May's US inflation print, at a 40-year high of 8.6 per cent, reignited fears that central banks will be forced into aggressive monetary policy tightening. The US Fed, Bank of England, and Bank of Japan are slated to announce their respective interest rate decisions this week.

Against this backdrop, the S&P BSE Sensex plunged 1,776 points intra-day before closing at 52,847, down 1,457 points or 2.68 per cent. The Nifty50, on the other hand, fell 427 points, or 2.64 per cent, to settle at 15,774. The index touched a low of 15,684 in intra-day trade.

Nestle India was the only Nifty50 company that ended 0.5 per cent higher. The top laggards were Bajaj Finserv, IndusInd Bank, Bajaj Finance, Hindalco, Tech M, Tata Motors, ICICI Bank, Adani Ports, NTPC, and TCS. All these stocks fell between 4 and 6.7 per cent.

In the broader markets, the Nifty MidCap 100 and SmallCap 100 declined 2.9 per cent and 3.8 per cent, respectively. Sectorally, all the indices sunk on the NSE with the Nifty IT and Media indices sliding 4 per cent each, and the Nifty Bank tanking over 3 per cent