Sensex opens 500 pts lower; Nifty down by 170 pts

Benchmark indices opened the week sharply lower on Monday, with the Sensex falling more than 500 points, tracking weakness across the globe.

The BSE Sensex dropped 406.55 points or 1.50 percent at 34,539 and the Nifty fell 129.10 points to 10,594.20.

Last Friday, the equity indices had their steepest fall since November 2016 as reintroduction of the long-term capital gains (LTCG) tax in the Budget led to a huge sell-off in the markets. The Sensex plunged by 839.91 points or 2.34 percent to close at 35,066.75 points, while the Nifty50 dropped 256.30 points or 2.33 percent to 10,760.60 points.

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