Sensex nosedives 1,024 points; Nifty tests 17,200

The 30-share BSE Sensex ended 1,023.63 points or 1.75 per cent lower at 57,621.19. Similarly, the NSE Nifty slumped 302.70 points or 1.73 per cent to 17,213.60.

Mumbai: Equity benchmark Sensex crashed 1,024 points to end below the 58,000-level on Monday, tracking a heavy sell-off in banking and financial stocks despite a largely steady trend in global markets.

Concerns over unabated foreign capital outflows also affected the market sentiment, traders said.

Benchmark indices started the session weak as investors remained cautious assets ahead of RBI's policy meet. However, the selling pressure deepened in the afternoon trade, they added.