Sensex drops 400 points, Nifty trades below 8,600

Equity benchmark Sensex plummeted over 1,375 points on Monday, tracking heavy losses in banking and auto stocks, amid an unsettling spike in Covid-19 cases.

After plunging over 1,500 points during the day, the 30-share BSE barometer ended 1,375.27 points or 4.61 per cent lower at 28,440.32.

Similarly, the NSE Nifty fell 379.15 points, or 4.38 per cent, to close at 8,281.10.

Bajaj Finance was the top laggard in the Sensex pack, tanking nearly 12 per cent, followed by HDFC twins, Tata Steel, ICICI bank, Kotak Bank and Maruti.