Zee Media Bureau
New Delhi: The benchmark BSE sensex which had faltered in the opening trade, and touched the lowest since June 2014 showed recovery from the correction and recovered 153 points and closed at 24,825.
The Nifty also recovered 48 points and closed at 7,563
The benchamark BSE Sense had fallen around 300 points or more than a percent in the opening trade at 24,672. Nifty had also dipped 52-week low at 7,515 today.
The carnage was lead by ICICI Bank, HDFC, L&T, SBI and Tata Motor and other mid-cap stocks.
The Nifty came under pressure and slipped below 7500 to hit its fresh 52-week low of 7495.65, down 87.35 points or 1.15 percent.. It was weighed down by losses in realty, power, oil & gas, metal, consumer durable, and banking stocks.
Experts are calling the meltdown as a correction in trade. They added that the third-quarter earnings of blue chip companies like TCS and Infosys, and key macroeconomic data of IIP and inflation will dictate the market trend this week.
Asian share markets also swept lower Monday after Wall Street suffered its worst starting week in history and doubts over Beijing's economic competence sent investors into the arms of the safe-haven yen and sovereign bonds.
Chinese stocks opened lower on Monday, with the benchmark Shanghai Composite Index down 1.71 percent to open at 3,131.85 points.
MSCI's broadest index of Asia-Pacific shares outside Japan sank 2%, as did Australia's main index. E-mini futures for the S&P 500 EScl were down 0.7 percent in a sizable move for Asian hours.
With input from Agencies