The key Indian stock exchanges plunged on Monday morning with the BSE Sensex falling over 500 points.
The fall in the domestic indices came on the back of a similar trend in the Asian markets as fresh coronavirus cases surged across the globe.
Heavy selling was witnessed in banking and finance stocks which pulled the indices lower.
At 10.27 a.m., Sensex was trading at 33,258.02, lower by 522.87 points or 1.55 per cent from the previous close of 33,780.89.
It had opened at 33,670.55 and has so far touched an intra-day high of 33,670.55 and a low of 33,233.94.
The Nifty50 on the National Stock Exchange was trading at 9,826.15, lower by 146.75 points or 1.47 per cent from its previous close.