The Sensex and Nifty extended losses, and the rupee fell to an all-time low on Monday, after broader Asian stocks declined on investor worries that a tightening COVID-19 lockdown in Shanghai could hit global economic growth.
The NSE Nifty 50 index was down 1.34 per cent or 218 points at 16,192.95, with all its major sub-indexes in negative territory, while the S&P BSE Sensex fell 1.34 per cent or 736.07 to 54,099.51.
Nifty's public-sector bank, metal and energy sub-indexes were among the top losers, declining more than 2 percent each.
According to a Reuters report, the Indian rupee tumbled to an all-time low of 77.42 against the dollar on Monday.
The benchmark indexes on Friday posted their worst week since November, declining for a fourth straight session, weighed down by a surprise interest rate hike by the Reserve Bank of India, foreign fund outflows and mixed corporate earnings.
Asian markets were lower on Monday as US stock futures fell on fears of more policy tightening from the Federal Reserve and a strict lockdown in Shanghai impacting global growth.