Monday mayhem in markets: The benchmark crashed over 850 points in late afternoon trade on Monday, down 1.30% and giving up its 65,000 level. The broader market index Nifty 50 was also down over 1.40% at levels close to 19,265, having slipped over 250 points. The blood bath on the was largely driven by the global cues, with the ongoing Israel-Hamas war hurting sentiments.

ICICI Bank, which gained due to good Q2 results, also dipped marginally ICICI Bank,
beat the quarterly estimates of analysts to post an almost 36% jump in its net profit for the quarter ended September 30. The ICICI Bank stock has the third-highest weightage in the benchmark. All the 13 major sectors logged losses.

Umeshkumar Mehta, chief investment officer at Samco Mutual Fund, told Reuters that there are several mid cap and small cap stocks where liquidity is a concern. “When liquidity is good like it has been so far, the going is good. But when the tide turns, it’s a double-edged sword,” Mehta was quoted as saying. Mehta is of the view that the Indian equities are likely to consolidate till concerns on the ongoing geopolitical conflict don’t ease.