New Delhi, Sept. 28 -- The Nifty 50 started Monday's session with a gap-down opening and came under immediate selling pressure. Within the first 15 minutes of trade, the index slipped below the crucial psychological mark of 23,000 and remained under pressure throughout the session. It eventually ended the day at 22,780.25, declining 1.56 per cent and marking its lowest close since April 2.

Market breadth remained extremely weak, with only three stocks from the Nifty 50 index closing in positive territory. Heavyweights such as HDFC Bank, Reliance Industries, and ICICI Bank were among the major contributors to the decline, collectively dragging the index lower by around 135 points.

Volatility also increased sharply, with the India VIX ris...