Markets witnessed a sharp fall during Monday’s trade, with the indices losing around 3%. The correction was heavily seen in stocks from the metals, banking, capital goods and real estate counters.
Analysts were predicting that a correction would set in after the sharp rally seen during the past 2 weeks. However markets have taken everyone to surprise, by bringing in the correction in such a sharp manner. Stocks from the metal space were down by a significant amount. Selling was seen across the sectors.
Sesagoa, the stock in news, after its planned merger with the Sterlite industries by its parent company Vedanta, has seen a massive cut of 10% in the trade. Sterlite however managed to close 2% lower.
It becomes interesting to see which way the markets would turn tomorrow, in the wake of today’s heavy cuts.