Indian indices in line with subdued Asian market after opening on a flattish note dropped. Towards the close of the session, Nifty Bank was down 380 points or over 1 percent, while broader markets also saw a sharp fall of over 0.5% on the Nifty Midcap 100.
At the close, Sensex ended weak by 185 points, while Nifty ended below 15,750 points at 15,748.45.
Among the Nifty sectoral indices, FMCG and the Pharma pack were only in the green with gains of up to 0.5%, while the sector seeing the most weakness included PSBs, metals, private bank and auto stocks among others.
So far in the first half of the calendar year, metal stocks have outperformed the headline indices.
Heavyweights also contributed in curbing sharp weakness with RIL settling in the green by a tad 0.09% and scaling to day's high price of Rs. 2109. The stock is still 11.5% away from 52-week high price.
Hospitality and airline stocks were all boosted by FM's recent stimulus package for the sector.
Stock of IRCTC also traded higher ahead of its results today. Notably the stock of IRCTC since its listing has trebled in valued.
Meanwhile, at the time of writing this copy, European shares traded firm with German DAX up by over 0.7 percent.