The Indian markets after starting off on a negative note declined further to the negative territory as the day progressed. All the sectoral and broader indices closed the day deep in red as selling is witnessed across the counter. The main dragger for the day is the metal index declining more than five percentage points followed by Consumer Durables and Capital Goods indices declining by more than three percentage points. The Sensex closed the day in red declining 447.07 points or 2.71 percentage points to close at 16,022.48. Nifty ends the day at 4806.75 declining 137.20 points or 2.78 percentage points. Market breadth was negative with 484 advances against 2,304 declines on BSE. On the global front European and Asian stocks tumbled and U.S. index futures dropped as signs of weakness in the Spanish banking system increased concern that Europe’s debt crisis is spreading and tensions grew in the Korean peninsular.
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