Sensex tanks over 400 points in early trade; RIL plunges 4 per cent

MUMBAI: Equity benchmark Sensex plunged over 400 points in early trade on Monday, tracking losses in index majors Reliance Industries, Kotak Bank and Bajaj Finance amid a weak trend in global markets and persistent foreign fund outflows.

The 30-share index was trading 435.74 points or 0.73 per cent lower at 59,200.27.

Similarly, the Nifty fell 129.85 points or 0.73 per cent to 17,634.95.

Reliance Industries (RIL) was the top loser in the Sensex pack, shedding around 4 per cent after the company shelved a proposed deal to sell a 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco for USD 15 billion.