Market benchmark BSE Sensex tanked nearly 537 points to end at over two-month low of 36,305.02 and the Nifty crashed below the 11,000-mark Monday, extending their slide for the fifth straight session after heavy losses in banking and auto stocks.


Reports of liquidity concerns following the default in repayment of loans by diversified IL&FS group spooked investors even as losses in global markets on reports that China had called off planned trade talks with the US in the wake of a new round of duties weighed on the market sentiment.


The 30-share Sensex hit a low of 36,216.95 before settling at 36,305.02, down by 536.58 points or 1.46 per cent -- the biggest single-session fall since February 6 when it had lost 561.22 points.


This is the weakest closing since July 11 when it settled at 36,265.93. The index had lost 1,249.04 points in the previous four sessions. The broader NSE Nifty cracked below the 11,000 level by dropping 168.20 points, or 1.51 per cent to end at 10,974.90 due to foreign fund outflows amid prospects of a 25 basis point hike in the interest rate by the US Federal Reserve this week.  -- PTI