Share market fell sharply in late afternoon trade on Monday, with BSE Sensex closing about 850 points down from the day’s high and NSE Nifty ending below the 23,650 mark, as foreign institutional investor (FII) outflows, global cues, and a weakening rupee weighed on investor sentiment.

The Nifty 50 closed with a loss of 169 points, or 0.71 per cent, at 23,644.90, while the Sensex settled at 78,248.13, down 451 points, or 0.57 per cent. Both indices slipped over 1 percent from their intraday highs. Market breadth remained weak, reflecting broad-based selling pressure.

As many as 38 stocks ended in the red in the Nifty 50 index.

The BSE Midcap index climbed 0.13 per cent, but the Smallcap index fell 0.47 per cent.