mumbai the bse benchmark sensex on monday slipped nearly 262 points due to panic selloffs by investors who were caught off guard by massive spike in crude prices after drone attack on the saudi arabias largest oil processing facilitytracking oil prices movement the indian rupee saw heavy depreciation in value against the us dollar spooking investors here experts saidafter plummeting 356 points the 30share index ended 26168 points or 070 per cent lower at 3712331 the broader nse nifty too settled 7980 points or 072 per cent down at 1099610top losers in the sensex pack included mm sbi yes bank asian paints hdfc tata steel and lt shedding up to 255 per centon the other hand techm ongc sun pharma hul tcs and bharti airtel rose up to 144 per centaccording to experts equities plunged after global crude oil price skyrocketed over 10 per cent after drones attacked two saudi arabian plants on saturdaythe attack has effectively knocked out over half of saudi arabias production as it cut 57 million barrels per day or over 5 per cent of the worlds supplyoil prices surged the most on record on monday with brent crude rising by as much as 195 per cent to 7195 per barrel the biggest gain in dollar terms since futures started trading in 1988shares of oil and gas companies hpcl bpcl ioc castrol india and reliance industries plunged as much as 7 per centstocks of aviation firms spicejet interglobe aviation and jet airways also cracked up to 395 per centover the weekend the drone strikes on saudi have added to the trade war related uncertainties and deteriorated market condition globally said gaurav dua sr vp head capital market strategy investments sharekhan by bnp paribasmoreover the indian economy will also get impacted due to surge in crude oil prices no wonder the indian equity market ignored the important initiatives announced by the government to the support housing sector and boost exports he addedfinance minister nirmala sitharaman on saturday unveiled over rs 70000 crore of measures for exporters and the real estate sector including about rs 30000 crore new spending in plans such as setting up of a stressed asset fund as part of efforts to boost economic growth from a sixyear lowfurther government data on monday showed that wholesale pricebased inflation remained unchanged at 108 per cent in august inflation in food articles rose to 767 per cent in august from 615 per cent in julygoing ahead if the tensions in middle east worsen it will have adverse impact on inflation prints said rahul gupta head of research currency emkay global financial servicesthe rupee meanwhile depreciated 61 paise intraday to trade at 7153 per us dollarelsewhere in asia shanghai composite index and hang seng ended in the red while kospi settled in the greenstock exchanges in europe were also trading on a negative note in their respective early sessions