Sensex slips below 40,000-mark, tanks 650 points

Amid surging virus cases and lack of clarity on the US stimulus package, investors dumped big private banking names, putting pressure on benchmark indices on Monday.

BSE Sensex slipped over 650 points, or 1.6 per cent, to 40,021 levels and the Nifty50 index hovered around 11,700-mark. Bajaj Auto (down 6 per cent), RIL (down 4 per cent), and SBI and ICICI Banks (down over 3 per cent each) were the top Sensex drags.

Meanwhile, Indian rupee ended 25 paise lower at 73.85 per dollar, amid selling seen in the domestic equity market.

It opened 17 paise lower at 73.77 per dollar against Friday's close of 73.60 and traded in the range of 73.69-73.88.

(With inputs from agencies)