Indian equity benchmarks closed sharply lower on Monday, with the BSE Sensex shedding 442 points to finish at 77,708.
The NSE Nifty 50 mirrored the decline, closing below the 24,240 level as selling pressure intensified across key sectors.
The downturn was primarily driven by heavy outflows from blue-chip banking stocks.
HDFC Bank and Axis Bank emerged as the worst performers, weighed down by growing investor concerns regarding net interest margins.
The weakness in the financial sector acted as a significant drag on broader market sentiment, preventing any meaningful recovery in the final hours of trading.
This session marks a continuation of recent selling pressure in Indian markets.