March 09, New Delhi – India's benchmark stock indices, the BSE Sensex and Nifty 50, plunged by nearly 3 per cent in early trading on Monday.
The sharp decline came as crude oil prices surged past $110 per barrel and global equity markets showed a bearish trend.
The 30-share Bombay Stock Exchange Sensex dropped by 2,345.89 points to 76,573.01, while the National Stock Exchange of India Nifty declined by 708.75 points to 23,741.70.
All Sensex constituents were trading in the red, with InterGlobe Aviation falling by nearly 8 per cent.
Market experts warned that prolonged high crude prices could severely affect major oil-importing economies, including India.
