The Sensex and Nifty fell over 3% in early trade on Monday, mirroring sluggish global markets and rising oil prices amid the Russia-Ukraine war. 

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The 30-share BSE Sensex began on a dismal note on Monday, extending its downturn for the fourth consecutive day, and fell 1,620.73 points, or 2.98%, to 52,713.08. Similarly, the broader NSE Nifty fell 447.05 points, or 2.75%, to 15,798.30, falling below the 16,000 thresholds.

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Maruti Suzuki, Mahindra & Mahindra, Larsen & Toubro, and ICICI Bank were the largest drags in the 30-share pack, falling up to 6.3%.

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The only gaining sectoral index on the BSE was Metal up by 0.61%, while Auto down by 4.86%, Bankex down by 4.54%, Realty down by 4.10%, Capital Goods down by 4.04%, Industrials down by 3.92% were the top losing indices on BSE.

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The 30-share BSE benchmark finished the previous session at 54,333.81, down 768.87 points or 1.40%. The NSE Nifty dropped 252.70 points, or 1.53%, to 16,245.35.

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All the Asian markets are trading in red with Nikkei 225 slipped 896.52 points or 3.45% to 25,088.95, Straits Times fell 21.92 points or 0.68% to 3,204.86, Hang Seng plunged 733.01 points or 3.35% to 21,172.28, Taiwan Weighted dropped 551.55 points or 3.11% to 17,184.97, KOSPI lost 60.76 points or 2.24% to 2,652.67, Jakarta Composite declined 56.50 points or 0.82% to 6,871.83 and Shanghai Composite was down by 50.92 points or 1.48% to 3,396.73. On Friday, stock markets in the United States closed in the red.

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According to exchange statistics, foreign institutional investors maintained their selling binge in Indian markets on Friday, offloading shares worth Rs 7,631.02 crore on a net basis.

Meanwhile, the international oil benchmark Brent crude rose 8.84% to USD 128.6 per barrel. Rupee slumps 81 paise to 76.98 against the US dollar in early trade.