Indian markets snap 2-day rally as Sensex falls 372 points
Indian stock markets had a rough Monday, snapping their two-day winning streak.
Sensex dropped 372 points to end at 76,728, while Nifty slid 110 points to close just below the important 23,950 mark.
The Nifty Bank index took an even bigger hit, falling by 450 points.
Widespread selling drags major stocks
The dip was mostly due to widespread selling across sectors; big names like Reliance Industries and Mahindra & Mahindra led the fall.
Auto stocks struggled too, with every company except Bharat Forge ending in the red.
Kotak Mahindra Bank lost over 3% after its MD Ashok Vaswani sought to step down.
Tech firm Persistent Systems plunged more than 11% after a risky investment move, and Astral dropped 8% following a business split and a downgrade from JPMorgan.
Overall mood? Pretty negative; twice as many stocks fell as rose today.