Indian market were pulled down by weak global and domestic cues, as bears took control of D-Street after an extended weekend.

The Sensex tanked 769 points, or 2.06 percent, its biggest fall since October 2018, wiping out Rs 2.6 lakh crore of investors’ wealth. It was also the worst fall of 2019 for the index in percentage terms.

The Sensex closed at 36,562.91, registering its worst drop in terms of points for the first time since July 8, 2019 when it had slipped 792 points to close at 38,720.

At the close of the trade, the market capitalisation of BSE-listed companies tumbled from Rs 140.98 lakh crore recorded on August 30 to Rs 138.37 lakh crore.

The markets started the week on a negative note led by muted Q1GDP numbers and weak auto sales. The BSE Midcap and Smallcap also closed with losses of 1.7 percent and 1.3 percent, respectively.

All the sectoral indices witnessed heavy selling pressure, with consumer durables, metals and banks registering a fall of 2-3 percent.

The rupee, too, was hit and slid past Rs 72-a-dollar mark again.

“In the near term, weak domestic sentiments and uncertain global cues may continue to have a negative impact on the Indian markets. Hence, we continue to remain cautious until there are meaningful signs of revival in the economy,” Ajit Mishra, Vice President, Research, Religare Broking Ltd, told Moneycontrol.

“Further, falling rupee (vs the US dollar) is a key concern which could negatively impact the sentiments. On the global front, trade tension between the US and China is likely to induce volatility across markets.”

The final tally: the Sensex down 769 points at 36,562 and the Nifty down 225 points at 10,797.

More than 250 stocks hit a fresh 52-week low on the BSE. Godrej Industries, Wockhardt, Canara Bank, KSB Pumps, Omaxe, Jyothy Labs, etc. were among the stocks that were hit.

The Nifty PSU Bank saw biggest one-day fall in seven sessions, while the Nifty Bank plunged 603 points to close at 26,824. The fall was led by losses in PNB, ICICI Bank, IndusInd Bank, RBL Bank, Axis Bank, and SBI.

The Bank Nifty continued its formation of lower highs - lower lows from past four trading sessions and corrected nearly 600 points to close below 27,000 zones.

“Nifty Bank formed a bearish candle on the daily scale as sustained selling pressure is seen throughout the session,” Chandan Taparia, Associate Vice President, Analyst-Derivatives, Motilal Oswal Financial Services, said.

“Now, till it holds below 27,250 zones, weakness could be seen towards recent swing low of 26,550 then 26,250 zones while on the upside hurdle is seen at 27,500 levels,” he said.