Equity indices slump amid broad-based selling

Key equity indices tumbled during early hours on Monday as surging Covid-19 cases continued to spook market sentiment.

At 10:15 am, the BSE SandP Sensex was down by 401 points or 0.82 per cent at 48,381 while the Nifty 50 edged lower by 97 points or 0.66 per cent to 14,534.

Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank slipping by 1.4 per cent, private bank by 1.3 per cent, financial service by 1 per cent and realty by 0.9 per cent.

But Nifty pharma and auto rose marginally by 0.3 per cent.

Among stocks, index heavyweight Reliance Industries dropped by 2.1 per cent to Rs 1,951.45 per share while Titan cracked by 3.1 per cent.