Markets plunged lower and lost ~1.5%, after spending nearly a week in a narrow range. After the initial uptick, Indian equities Benchmark drifted gradually in the initial hours however the pace of decline intensified as the day progressed.

Dear Trader… Nifty future witnessed a sharp correction and fell below the 22100 zone after consolidating for last seven days. The index closed with a loss of 370 points (-1.65%) at 22076 levels. Broader market saw persistent selling and tumbled 4-5%. All sectors ended in red with Metals, Realty, Pharma,