Indian stock markets witnessed a sharp downturn on Monday, with the benchmark indices Sensex and Nifty both plunging by over 1.5%, primarily due to a broad-based selloff. The drop in the indices was driven by rising concerns over third-quarter earnings growth, coupled with sustained foreign fund outflows, which dampened investors’ risk appetite.

Adding to the market woes were fears surrounding the new HMPV virus, the depreciation of the rupee, and weak trends across Asian markets, all of which contributed to the overall negative sentiment. The 30-share BSE Sensex sank 1,258.12 points, or 1.59%, to settle at 77,964.99, closing below the 78,000 mark. At one point during the day, the index plunged even further, down 1,441.49 points, or 1.81%, to 77,781.62. Similarly, the NSE Nifty fell 388.70 points, or 1.62%, to end the day at 23,616.05.