Mumbai, March 9 || The Indian equity markets plummeted close to 3 per cent in early trade on Monday tracking global weakness, rising crude oil prices amid escalating tensions in the Middle East.
As of 9.22 AM, the Sensex lost 2,333 points, or 2.96 per cent, to reach 76,585 and Nifty dipped 686 points, or 2.81 per cent to reach 23,764.
Main broad-cap indices performed in line with the benchmark indices, as the Nifty Midcap 100 slipped 3.28 per cent, and the Nifty Smallcap 100 dipped 3.37 per cent.
All sectoral indices traded in the red with Nifty PSU bank leading losses down 5.32 per cent. Nifty private bank, auto and metal were among the top losers down 3.41 per cent, 3.98 per cent and 3.39 per cent respectively.
In the near term, the market is likely to remain volatile and range-bound with a downside bias unless geopolitical tensions ease, crude oil prices stabilise, or supportive macroeconomic triggers emerge to restore investor confidence, analysts said.