Market close: Sensex down 363 points

After opening gap-down, the benchmark indices experienced continued selling pressure throughout the day on Monday. Following renewed tariff threat from the US President Donald Trump, negative sentiments gripped the market right from the opening bell with auto, metal and stocks dipping the most.

The BSE Sensex closed at 38,600.34, down by 362.92 points or 0.93 per cent, while Nifty50 closed at 11,598.25, down by 114.00 points or 0.97 per cent on Monday. The most traded index Nifty Bank closed down by 335.70 points or 1.12 per cent at 29,618.45. On a broader market basis mid-caps and small-caps followed the suit and Nifty Mid-cap 100 was down by 0.74 per cent, while Nifty Small-cap 100 was marginally up by 0.94 per cent.

Among the top losers were ZEEL, Titan, Yes Bank, Tata Motor and JSW Steel down more 6 to 4 per cent, while on Sensex the losers were Tata Steel, Bajaj Finance, HDFC and IndusInd. Among the top gainers of Nifty were BPCL, TCS, Bajaj Finserv, ITC and Bharti Airtel, while on Sensex, the toppers include Sun Pharma, ONGC and Power Grid.

Sectorally, Nifty Metal and Media led the losers, down by more than 2 per cent, while Nifty IT was the only index in green. The Auto and Realty indices were down 1.35 and 1.47 per cent, respectively. Nifty FMCG and Pharma indices were down by 0.59 and 0.33 per cent.

Index heavyweights HDFC Banks, HDFC, Reliance, Infy contributed negative 85 points, 72 points, 70 points and 22 points, respectively.

US President Donald Trump on Sunday threatened to impose tariffs on US$200 billion worth of Chinese imports this week. Media reports said that China was considering cancelling talks with the US scheduled to be held this week.