Equity benchmark Sensex plunged nearly 600 points in early trade on Monday.
At 10:11 am, the 30-share BSE index was trading 248.02 points lower at 52,096.43 in initial deals. Similarly, the broader NSE Nifty tumbled 79.35 points to 15,604.00.
M&M was the top loser in the Sensex pack followed by L&T, UltraTech Cement, ICICI Bank, Maruti and SBI.
On the other hand, NTPC, HUL, Sun Pharma and Asian Paints were among the gainers.