Equities in red, Sensex falls 700 points

The key Indian equity indices opened on a negative note on Monday with heavy selling in finance and banking stocks.

The BSE Sensex plunged as much as 754.29 points to touch an intra-day low of 48,028.07 points.

It has, however, recovered from the lows and around 10.15 a.m., it was trading at 48,424.70, lower by 357.66 points or 0.73 per cent from its previous close of 48,782.36.

It opened at 48,356.01 and has so far touched an intra-day high of 48,493.14 points.

The Nifty50 on the National Stock Exchange was trading at 14,532.35, lower by 98.75 points or 0.67 per cent from its previous close.

The top gainers on the Sensex were Maruti Suzuki India, Bajaj Auto and Hindustan Unilever, while the major losers were Titan Company, ONGC and ICICI Bank.