The markets started the week on an extremely weak note owing to negative global cues. The Sensex opened at 17,070, and soon tumbled way below th 17,000-mark.
The US markets were mainly to be blamed for the dismal state of affairs. Wall Street had tumbled on Friday due to disappointing US payroll data, with the Dow Jones falling below 10,000-mark to rest at 9931, down 323 points.
The BSE benchmark index soon slipped to a low of 16,686, down 431 points from the previous close.
The markets continued to exhibit weak movement throughout the day.
The Sensex finally ended at 16,781, down 336 points and the NSE Nifty settled 101 points down at 5,034.
The Asian markets ended in the red, major indices like Hang Seng declined 2 per cent and the Nikkei shed 4 per cent, respectively.
The metal and the realty indices were the major draggers among the sectoral indices.
The metal stocks cracked deeply today with the frontline stocks shedding 5 per cent each after LMEX a gauge of six metals closed at 2,843.30 on Friday, a lowest level since October 6, 2009.
The index fell 4 per cent on June 4, 2010, and has slumped almost 25 per cent from its recent high of 3,767.70 touched on April 15.
Realty stock were also under tremendous selling pressure on reports that the Competition Commission of India has decided to enquire, on its accord, if various developers are misleading the buyers, to check the rampant malpractices in the realty sector.
