Volatile stock markets are undergoing a sharp correction driven by a sell-off in global markets amid indications that the US Federal Reserve will tighten liquidity and hike interest rates.
On Monday, the benchmark Sensex crashed by 2,000 points intra-day, or 2.62 per cent, before closing with a loss of 1,546 points at 57,491.51 — over the last five trading sessions, it has lost 3817 points or 6.2 per cent. The NSE Nifty Index plunged 468 points, or 2.66 per cent, to reach 17,149.10.