The Nifty saw a volatile session with the index posting its biggest fall in 2021 as stocks tumbled like ninepins.
Bank Nifty led the decline falling over 5% as large-cap & PSU banks led the indices lower.
IT & pharma stocks buckled the trend even as mid-caps had their biggest fall in over 4 months.
For today, expect some consolidation even as oversold stocks look set to bounce back after some heavy ETF selling which may continue for this week.
US Market: US stocks close with marginal losses even as S&P 500 index hits fresh new all-time highs.
Bond yields edge up slightly to 1.67% even as US$ sees further weakness.
Earnings from large banks to set the tone this week as markets see a consolidation after a superb run.
Asian Market: Asian markets opened in the green led by the Japanese Nikkei as after consolidation in most Asian markets stocks look set to gather momentum ahead of earnings season as US$ weakness sees flows heading back into Asian markets.
Corporate earnings from China will be watched as the manufacturing sector sets to outperform this quarter.