By 9:50 am, BSE Sensex was trading lower by 1,516 points or 4.50 per cent at 32,194.55, while NSE Nifty was down 439.10 points at 9,420.80. 

Shares of banks, metals and automobile companies emerged as worst performers on the stock market today. (Photo: Reuters)

Domestic equity markets crashed in early morning trade on Monday even as some economic activities restarted across India, as part of the relaxed lockdown 3.0 guidelines. However, it seems that market investors were expecting rules to be relaxed further.

Apart from the extension of the lockdown, weak company results and global cues led to today’s morning meltdown. Many bluechip stocks including Reliance Industries Limited was down after reporting weak March quarterly results.

RIL shares fell despite a fresh announcement that private equity giant Silver Lake will invest over Rs 5,650 crore in Jio Platforms.

By 9:50 am, BSE Sensex was trading lower by 1,516 points or 4.50 per cent at 32,194.55, while NSE Nifty was down 439.10 points at 9,420.80.

It is worth mentioning that shares of banks, metals and automobile companies emerged as worst performers on the stock market today.

The India VIX or the volatility index also rose sharply by 25 per cent on Monday as fears of a global trade fallout weigh in on sentiments of domestic traders.

All Nifty sectoral indexes apart from Pharma were in red during morning trade. Nifty Bank, Auto, Private Bank and Financial Services lost significantly.

Some of the early morning gainers were Cipla, Sunpharma and Dr Reddy while bank and auto stocks were top losers.

To sum it up, the renewed tension between US and China coupled with the extension of the lockdown led to the sharp contraction in morning trade.

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