The benchmark Sensex on Monday slipped more than 432 points in early trade on heavy selling by funds, triggered by weak global trend.
The BSE-30 share index, Sensex, which had gained 152.70 points in the previous trading session, crashed 432.82 points at 14,705.58 in the first five minutes of trading.
The wide-based National Stock Exchange's Nifty dropped 120.85 points at 4,267.15.
Market observers said meltdown on the global markets mainly triggered major sell-off on the domestic bourses, dragging the Sensex down sharply.
Most heavy-weight stocks on the indices were in the red with sizeable losses.