Equities started the week on a dull note with the market benchmark Sensex tumbling to a three-week low on Monday as a plunge in Tokyo and disappointing domestic corporate earnings along with a fall in manufacturing sector activity rattled investors.
In contrast, broader markets were in a better shape with the mid-cap and small-cap indices closing higher by 1.10 per cent and 0.39 per cent, respectively. Falling for a second straight session, ICICI Bank emerged as the top Sensex loser, skidding 4.08 per cent to close at Rs 226.95 as the company posted its worst numbers in over a decade with net profit plunging 87 per cent in March quarter.
Investor sentiment was badly hit following heavy losses in Japanese shares, dragging the Nikkei down by 3.11 per cent, as exporters took a major hit from surging yen after BOJ took investors by surprise by deciding against fresh stimulus. Markets in China, Hong Kong, Malaysian, Singapore and Thailand remained closed for public holidays.