Markets witnessed their steepest decline in two months on Monday, with the carnage most pronounced in small and mid-cap stocks as 527 companies hit 52-week lows while only 88 touched 52-week highs, highlighting the severity of the ongoing correction in the broader market despite benchmark indices scaling fresh peaks just a week ago.

The BSE Sensex plummeted 609.68 points or 0.71 per cent to close at 85,102.69, while the NSE Nifty tumbled 225.90 points or 0.86 per cent to settle at 25,960.55.

However, the pain was far worse in the broader market, with the Nifty Midcap 100 index crashing 1,106.50 points or 1.83 per cent to 59,488.10, and the Nifty Smallcap 100 index nosediving 456.10 points or 2.61 per cent to 17,051.65. The Nifty Next 50 suffered the steepest decline, plunging 1,407.

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