Benchmark equity indices slumped sharply on Monday as heavy selling pressure dragged markets lower amid rising global and domestic risks. The S&P BSE Sensex was down 722.60 points at 84,989.77 around 1.51 pm, while the NSE Nifty50 slipped 250.85 points to trade at 25,936.45.

Broader markets mirrored the weak sentiment, with mid-cap and small-cap stocks witnessing sharper cuts than frontline indices.

Intraday volatility also spiked, signalling heightened nervousness on Dalal Street.

Sectorally, PSU banking stocks led the decline, joined by selling in realty and chemical stocks. Weak institutional flows and profit-booking in interest-rate sensitive segments weighed on sentiment.

FII SELLING HITS SENTIMENTS

Foreign institutional investor (FII) selling remained a major drag on the market.

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