Sensex sinks 872 points; Nifty slips below 17,500 points on weak global cues

The Indian stock market’s key indices, the Sensex and Nifty, fell by around 1.5 percent on Monday, dragged down by heavy selling pressure in banking and financial stocks amid weak global cues.

The 30-stock S&P BSE Sensex fell 872.28 points, or 1.46 percent, to 58,773.87 points after closing at 59,646.15 points the previous session.

Earlier, the Sensex opened the day at 59,361.08 points and fell to a low of 58,705.11 points during the day. The Sensex reached an intra-day high of 59,402.50 points.

The key indices have fallen for the second consecutive session. The Sensex had fallen 651.85 points, or 1.08 percent, in the previous trading session on Friday.

The broader Nifty 50 of the National Stock Exchange fell 267.75 points, or 1.51%, to 17,490.70 points after closing at 17,758.45 points the previous session.

On Friday, the Nifty 50 fell 198.05 points, or 1.10 percent.