Market Weak: Sensex Falls Over 300 Points, Nifty Near 11,400

Domestic stock markets suffered sharp losses on Monday with the BSE S&P Sensex index falling more than 300 points in morning, amid weakness in Asian peers. 

The broader NSE Nifty benchmark fell as much as 99.5 points to touch 11,412.90 on the downside. The Sensex fell 334.66 points to hit 38,487.91 at the weakest level. Losses in banking, metal and pharma stocks dragged the markets lower however buying in IT shares arrested the fall. 

The NSE's Bank Nifty sectoral index - comprising shares of 12 majors banks - fell as much as 2.52 per cent, dragged lower by Yes Bank which plunged 13.03 per cent during the session. 

The Sensex index had ended 167.17 points - or 0.43 per cent - lower at 38,822.57 on Friday, and the broader Nifty benchmark settled at 11,512.40, down 58.80 points - or 0.51 per cent - from its previous close.