The judiciary has sent a strong message against crony capitalism.
The 30-share Sensex is down 359 points at 26,378 and the Nifty has dropped 78 points to trade at 7,883
Metal stocks lose ground with Hindalco, Tata Steel, Sesa Sterlite down 4-10%.
The broader markets closed in tandem with their large counter parts- BSE Midcap and Smallcap indices lost 0.065 and 0.10%, each.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
Costlier oil due to rising conflict in Iraq threatens to hurt the India economy that is already battling price rise and slowing growth.
Investors booked profits after strong 641-point rally in the previous two sessions, brokers said.
The government on Friday issued fresh show cause notices to prior allottees of coal blocks like JSPL, JSW and Tata Steel, asking reasons behind delays in mines development and warned of deduction in their bank guarantees if they failed to furnish replies.
FMCG major ITC and private banking major ICICI Bank were the top Sensex losers
Novelis is expected to come out with its March quarter earnings on Friday and a decision on its rating will follow soon after.
Indian CEOs might like to make some serious course correction.
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
Aviation companies were in focus with all the three airliners SpiceJet, InterGlobe Aviation and Jet Airways adding in the range of 2% to 3% on the BSE
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
In the broader market, the S&P BSE Midcap added over 1% to finish at record closing high
Critics say the crackdown is to muzzle dissent and Rijiju's actions could lead to less foreign aid for projects that fight child marriage, provide clean water in slums and feed pregnant women.
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JSPL and Balco had emerged as the highest bidders in the recently concluded auctions.
Benchmark share indices ended flat amid lack of investor participation even as gains in IT majors ahead of their second quarter earnings helped capped downside.
Markets extended gains for the fourth consecutive day tracking gains in banks, capital goods and oil and gas majors.
Several Sensex stocks hits 52-week low in intra-day trade on Monday with financials leading the decline.
Gains were led by HUL on better-than-expected margins in March quarter and capital goods shares.
Broader market outperformed the frontline indices and also hit their respective all-time highs
Financial shares were the top losers.
Former Coal Secretary P C Parakh, who was named by the Central Bureau of Investigation in a first information report on a coal block allocated to Hindalco, had joined three private firms after retirement, raising questions over his role in one of the companies that's now under the scanner after getting a block.
Profit booking in realty, oil and gas, capital goods, power and metal stocks pulled the index down to the day's low of 25,347.33 points.
SBI was the top gainer after it reported lower-than-expected rise in bad loans
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
Overseas investors were one of the heavy buyers.
Ten of top 15 companies in 1991 were PSUs; now, there are only six. Their revenue share has also fallen from 86% to 45%
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
The private companies announced projects worth Rs 11.33 lakh crore (Rs 11.33 trillion) during 2014-16.
A majority of economists predicted RBI Governor Raghuram Rajan would leave policy rates unchanged on Tuesday and expected a dovish commentary, as crude oil prices and inflation cool off.
But the company should take extra steps to prevent pollution.
The market breadth, indicating the overall health of the market turned negative from positive
The market players are expected to react to the better than expected factory output data for the month of August, which revealed that the industrial production grew by 6.4%.
'Unless India Inc's earnings offer promise in March 2017 quarter, sentiment may not reverse in a hurry.'
In the December quarter, Sensex earnings had contracted 5 per cent.
The S&P BSE Sensex plunged 128 points to end at 25,102.
Benchmark share indices opened lower on Monday, amid weak global cues, as investors turned cautious ahead of the US Federal Reserve stance on interest rate.
