Indian equity benchmarks ended sharply lower on Monday,
with Sensex and Nifty over 1% at close amid weak global market trends and
continued foreign fund outflows. Indices made a negative start, as traders were
cautious as government data showed that the output of eight core infrastructure
sectors grew 3.3% in August, the lowest in nine months, as against 12.2% in the
year-ago period.

The Sensex plunged 638.11 points or 1.11% to settle at
56,788.81. During the day, it tanked 743.52 points or 1.29% to 56,683.40. The
Nifty fell by 207 points or 1.21% to end at 16,887.35.

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The broader indices were ended in red with the BSE Midcap
index down by 1.24% and the Small cap index down by 0.54%. The only gaining
sectoral indices on the BSE were Healthcare up by 0.81% and Telecom was up by
0.43% while, Power was down by 3.24%, Utilities down by 3.14%, Auto down by
2.11%, FMCG down by 2.05% and Bankex was down by 1.69% were the top losing
indices on BSE.

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Major laggards from the Sensex pack were Maruti Suzuki down
by 3.16%, Hindustan Unilever 2.77%, IndusInd Bank 2.55%, ITC 2.32%, Bajaj
Finance 2.26%, State Bank of India 2.15%, Kotak Mahindra 2.03%, Bajaj Finserv
1.94%, ICICI Bank 1.71% and Larsen and Toubro down by 1.59%.

Among the gainers were Dr Reddy’s Labs up by 1.99%, Bharti
Airtel 0.46%, NTPC 0.41%, and Wipro 0.05%.

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Indian rupee fell by 49 paise to close at 81.89 against the
US dollar as heavy selling pressure in the domestic equities and a spike in
crude oil prices weighed on the local unit.

In Asian markets, the Hang Seng ended 0.83% down and the
Nikkei 225 gained 1.07%.

European stock exchanges were trading lower in mid-session
deals after oil prices rose by more than $3 per barrel amid dire warnings over
energy shortages in Europe. The US equity markets ended in negative territory
on Friday.

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Sensex had surged 1,016.96 points or 1.80% to close at
57,426.92 on Friday. The Nifty jumped 276.25 points or 1.64% to settle at

Brent crude, the international oil benchmark jumped 3.90%
to $88.46 per barrel.

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According to stock exchange data, foreign institutional
investors sold shares worth Rs 1,565.31 crore on Friday. Foreign investors
turned sellers in September, pulling out Rs 7,600 crore from Indian equity