India, Oct. 19 -- Indian equity benchmark indices extended their losses on Monday with the BSE Sensex plunging over 1,000 points and the NSE Nifty 50 falling nearly 300 points by 1:48 pm, as selling in heavyweight private banks, elevated crude oil prices and concerns over foreign fund outflows weighed on investor sentiment.

The Sensex was down 1,002 points, while the Nifty had declined around 300 points at 1:48 pm. The sharp selloff came after both benchmarks recorded their strongest weekly performances in around six months last week, gaining approximately 3% each.

The decline also erased a significant portion of last week's gains, with investors turning cautious after assessing September-quarter earnings from major lenders, including H...