Mumbai/IBNS, May 18 -- The Indian stock market on Monday witnessed a massive selloff with the BSE Sensex plunging over 1,000 points while the NSE Nifty 50 slipped below the 23,400 mark during the opening hour, media reports said.

Though the Sensex later recovered marginally, it was still trading sharply lower by 800-900 points in morning trade.

Nifty continued to hover around the 23,400 range as investor sentiment remained severely impacted by surging crude oil prices and escalating geopolitical tensions in West Asia.

Crude Oil Prices Spike

Global crude oil prices crossed the $110-per-barrel mark amid the continuing Iran war and fears over potential disruption in Middle East oil supplies.

Market experts believe investors are particul...