Indian Markets tank as concerns over Syria escalate - Cholamandalam Securities

Indian Markets witnessed their second biggest fall in absolute terms since October 2011 on concerns that the US might strike Syria for using chemical weapons.

Reports that Russian radar detected two ballistic objects were fired towards the Eastern Mediterranean aggravated the sell off. The rupee depreciated a little closer to record low as investors remained doubtful whether government would act decisively to restore confidence in the economy.

Radico Khaitan locked in upper circuit on reports the company plans to sell majority stake to Japanese liquor company Suntory Holdings.

Amongst, sectoral indices Banking, Consumer Durables, Realty, FMCG, Oil & Gas and Capital Goods ended lower sharply.

Markets are expected to open on a weak note amidst negative global cues. Realty stocks to be under pressure after RBI debars upfront loans for under construction projects.

Source : Equity Bulls

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