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The benchmark Bombay Stock Exchange (BSE) Sensex index plunged more than 325 points to below the 38,000 mark in early trade on Monday, hurt by a weak global economy and a depreciating rupee.

The 30-stock index fell 222.14 points to close at 37,845.24 on Friday, down 325.49 points or 0.85%. All indices in sectors such as real estate, metals and automobiles fell as much as 1.57% due to the high bearish sentiment.

Similarly, the NSE Nifty index fell 103.90 points, or 0.78 per cent, to 11,353 after hitting a low of 11,342.90 earlier. Brokers said that apart from profit booking in recently surging stocks, the rupee’s fall below the 69 mark against the dollar and weak signals in global markets also weighed on investor sentiment.

Global stocks weakened on Friday, sparking a sell-off on Wall Street as weak U.S. and European manufacturing data stoked concerns about an economic slowdown.

The laggards in the domestic stock market were Vedanta Ltd, Sun Pharma, Tata Steel, Kotak Bank, State Bank of India (SBI), Tata Motors, RIL, ICICI Bank, Yes Bank, HDFC Ltd, Axis Bank, M&M, L&T, IndusInd Bank, ITC Ltd, HCL Tech, Bajaj Auto, HDFC Bank and Infosys, which fell by 2.16 per cent.

Bucking the trend, shares of Coal India, Maruti Suzuki and Hero MotoCorp rose 0.84 per cent each. –PTI

Image: Bank stocks fell 2.16%