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Markets snapped two days of rally and saw sharp cuts in today’s trade. Sensex plunged 696 points to close at 9839, while Nifty shut shop at 2938, losing 209 points. Indian markets lost the most among all the Asian markets. Rupee closed at 48.12 against the dollar as against yesterday’s close of 47.38. September Index of Industrial Production (IIP) data will be announced tomorrow and is expected to show a growth of 3.6% as against 1.3% for the previous month.

All the sectoral indices finished in red. BSE Realty and Metal indices were down the most, losing 10.2% and 8.4% respectively. ITC was the sole gainer among the sensex stocks, up merely 0.06%, while JP Associate and Sterlite lost 12.2% and 11% respectively. BSE advance-decline ratio stood at 1:2.3.

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