Sensex drops 262 pts as crude oil prices boil

The BSE benchmark Sensex on Monday slipped nearly 262 points due to panic sell-offs by investors who were caught off guard by massive spike in crude prices after drone attack on the Saudi Arabia's largest oil processing facility.

Tracking oil prices movement, the Indian rupee saw heavy depreciation in value against the US dollar, spooking investors, experts said.

After plummeting 356 points, the 30-share index ended 261.68 points, or 0.70 per cent, lower at 37,123.31. The broader NSE Nifty too settled 79.80 points, or 0.72 per cent, down at 10,996.10.

Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent.

On the other hand, TechM, ONGC, Sun Pharma, HUL, TCS and Bharti Airtel rose up to 1.44 per cent.