The BSE Sensex and NSE Nifty experienced a sharp decline in early Monday trade, led by a significant drop in Reliance Industries shares and heightened caution among investors ahead of key US events, including the presidential elections and an expected decision on interest rates by the Federal Reserve. The downtrend was further fuelled by ongoing selling pressure from foreign institutional investors (FIIs), which has been consistent over recent weeks.

According to PTI, the BSE Sensex opened lower, falling by 665.27 points to reach 79,058.85. Simultaneously, the NSE Nifty also declined, shedding 229.4 points to settle at 24,074.95. In a significant downward movement, Reliance Industries, a key player in the market, along with other major stocks such as Sun Pharma, Infosys, Tata Motors, Titan, Maruti, and NTPC, emerged as prominent laggards within the 30-share Sensex pack.