Indian markets plunged over 1.2 per cent at the end of the session on Monday on heavy selling by funds and retail investors owing to weak global cues.

The 30-share BSE index Sensex was down 233.35 points (1.24 per cent) at 18,540.89 and the 50-share NSE index Nifty was down 68.35 points (1.21 per cent) at 5,599.30.

All BSE sectoral indices ended in the red. Among them, realty and consumer durables indices were the worst-hit and were down 4.79 per cent and 3.38 per cent, respectively, followed by capital goods 2.91 per cent and PSU 2.42 per cent.

Among 30-share Sensex, Jindal Steel, Hindalco, ICICI Bank, HDFC and Tata Power were the top five gainers, while the top five losers were Sterlite, Bharti Airtel, BHEL, ONGC and L&T.

European stocks were down as Goldman Sachs Group Inc. cut China’s growth forecast amid concern banks at China face a cash crunch. US index futures and Asian shares also dropped.

Also, participants were keenly waiting for the latest US economic growth forecasts to be released on Wednesday. If there is any further improvement in the US economy, then Fed will taper off its bond-buying programme sooner.

Stoxx 50 was down -27.35 points or 1.07 per cent at 2,522.13, FTSE 100 fell 43.20 points or 0.71 per cent to 6,072.97 and DAX shed 65.23 points or 0.84 per cent to 7,724.01.

In the Asian trade, Japan’s Nikkei 225 shed 167.35 points or 1.26 per cent to 13,062.78 and Hong Kong’s Hang Seng plunged 449.33 points or 2.22 per cent to 19,813.98.

(This article was published on June 24, 2013)
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