Sensex plunges 942 points to settle at nearly three-month low

From Sensex pack, Adani Ports, Reliance Industries, Sun Pharma, Bajaj Finserv, NTPC, Tata Motors, Axis Bank and Titan were among the major laggards

MUMBAI: Benchmark Sensex tanked nearly 942 points to settle at a three-month low while Nifty crashed below 24,000 on Monday, dragged down by heavy selling in Reliance Industries and banking shares and persistent FII outflows.

The 30-share BSE Sensex tumbled 941.88 points or 1.18 per cent to settle at 78,782.24, the lowest closing level since August 6. During the day, it slumped 1,491.52 points or 1.87 per cent to 78,232.60.

The NSE Nifty tanked 309 points or 1.27 per cent to close at 23,995.35 with 42 of its constituents ending lower and eight higher. The index tanked 488 points to hit 23,800 level during the day but recovered some of the losses later.

Uncertainty ahead of US presidential elections on November 5 and expectations of a fresh stimulus package by China to prop up growth triggered selling in Indian stocks, analysts said.