The Sensex plummeted over 2,000 points taking cues from the global markets after the U.S. said it had evidence to prove that COVID-19 originated in a China lab.
The break in the four-day rising streak was mirrored by the rupee plunging 64 paise to 75.73 against the dollar.
Market participants attributed the drop in equity indices to the overall weak trend in global markets following rising tensions between the U.S. and China. On the domestic front, the 14-day extension of the lockdown dampened investor sentiment that was already subdued on account of weak corporate earnings by heavyweights such as Hindustan Unilever and Reliance Industries.
The 30-share Sensex lost a whopping 2,002.27 points, or 5.94%, to close at 31,715.35. As many as 28 of the 30 constituents of the benchmark ended deep in the red on Monday.