The S&P BSE Sensex plunged over 100 points in trade on Monday ahead of key earnings scheduled for index heavyweights including Reliance Industries, Infosys and HDFC Bank later this week.
The 50-share Nifty index pared some gains and was testing its crucial psychological level of 8,600.
The market breadth was positive, with six out of every 10 BSE stocks trading in the green.
The gains in benchmark indices were capped by selling seen in the stocks of index heavyweights such as HDFC, Infosys and ITC.
Earlier in the day, Bank Nifty fell over 150 points, trading below 19,000.
During the trading session, Novartis India surged nearly 8 per cent in intraday trade to hit its lifetime high.
Gold plunged 4 per cent as Bullion fell to as low as $1,088.05 an ounce to its lowest in more than five years on Monday as sellers in top consumer China sold off the metal in a matter of minutes, just as bullion’s safe-have status takes a fresh knock from mounting expectations of a US rate hike.
Shree Ganesh Jewellery rallied as much as 15.46 per cent, while Tribhovandas Bhimji Zaveri surged 14.33 per cent in intraday trade. Gitanjalli Gems advanced 14 per cent in trade. PC Jeweller and Tara Jewels too gained over 4 per cent each in intraday trade.
Meanwhile, Japan’s Nikkei was closed today on account of ‘Marine Day’. Other Asian markets were trading more or less sideways. China’s Shanghai Composite recouped losses. It was up 0.5 per cent, trading near the 4,000-mark. Hong Kong’s Hang Seng lost 0.18 per cent.

Source: http://economictimes.indiatimes.com/markets/stocks/news/sensex-in-red-gold-at-5-year-low-novartis-at-lifetime-high-federal-bank-slumps-9/articleshow/48141321.cms