MARKET ANALYSIS
- The S&P BSE Sensex plunged as much as 351 points in trade on Monday, led by sharp losses seen in Infosys, TCS, HDFC Bank, ICICI Bank and L&T.
- The Indian markets underperformed other Asian peers as profit booking extended for the second straight session in a row. The 50-share Nifty index slipped below its crucial psychological level of 8500 and also broke below its 20-DMA placed at 8452 levels.
- The BSE Sensex finally closed 338.70 points lower at 28,119.40. It hit a low of 28,097.12 and a high of 28494.85 in trade today. The 50-share Nifty index closed below its crucial psychological support level of 8500 at 8,438.25.
- Another factor highlighted by experts is the fact that December is generally seen as a slow month given the fact that most of the key events are already over. There is not much on omestic or global front which will aide trading activity.
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