Sensex tanks 1,500 points on global cues

Indian equity indices continued its bear run on Monday morning with the BSE Sensex falling 1,500 points. Further, crude oil prices also slumped around 30 per cent on Monday as Organization of Petroleum Exporting Countries (OEPC) failed to agree on an output cut deal, eventually causing Saudi Arabia to cut its prices as it is likely to increase its production. Saudi Arabia's stance has already raised concerns of an all-out price war.