Stock markets took a beating on Monday with benchmark Sensex and Nifty tumbling over 1 per cent as escalating conflict in the West Asia and weak trends from global markets unnerved investors.

Falling for the second session in a row, the 30-share BSE Sensex tanked 845.12 points or 1.14 per cent to settle at a more than two-week low of 73,399.78. During the day, it plunged 929.74 points or 1.25 per cent to 73,315.16.

The NSE Nifty declined 246.90 points or 1.10 per cent to settle at 22,272.50. Key indices had plunged by over 1 per cent in the previous session on Friday due to profit taking by investors at record high levels. Sensex lost 1,638 points or 2.19 per cent while Nifty plunged 481 points or 2.13 per cent to slip below the 22,300 level in two straight sessions.

Foreign fund outflows and hotter-than-expected US inflation data also played spoilsport for the markets. Analysts said the renewed conflict in the Middle East, proposed changes in the India-Mauritius tax treaty and the hotter-than-expected US inflation proved to be major drags.