Market mayhem:Sensex falls 826 pts, Nifty below 19,300

Indian equity markets suffered significant losses on Monday as both, the 30-share BSE Sensex and 50-share NSE Nifty, plunged by over 1.25%. Benchmark equity indices Sensex and Nifty plunged more than 1 per cent on Monday, falling for the fourth day running, amid weak trends in global markets in view of heightened tensions in the Middle East.Crude oil quoting above USD 90 a barrel mark also played spoilsport for the markets.In a broad-based sell-off, the 30-share BSE Sensex plunged 825.74 points or 1.26 per cent to settle at 64,571.88. During the day, it plummeted 894.94 points or 1.36 per cent to 64,502.68.
Among the Sensex firms, JSW Steel, Tata Motors, Tata Steel, Tata Consultancy Services, NTPC, Wipro, HCL Technologies, State Bank of India, Larsen & Toubro, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Power Grid and Reliance Industries Limited were the major laggards. Mahindra & Mahindra and Bajaj Finance were the gainers.
In the four sessions since Wednesday, Sensex tanked 1,925 points to fall below the 65,000 mark, while Nifty plunged by around 530 points.The BSE smallcap gauge cracked 4.18 per cent, and the midcap index dropped 2.51 per cent.
The 10-year US Treasury yield rose above 5% on Monday for the first time in 16 years as investors anticipate higher interest rates.In Asian markets, Seoul, Tokyo and Shanghai settled lower.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)