| The key indices on Monday plunged 5 per cent, on concerns consumer spending and corporate earnings will be hit by the cash reserve ratio and repo rate hike by the central bank. |
| "People are getting more and more nervous about future earnings of corporates, and we can expect the sharp correction to continue tomorrow as well, but strong buying will come in around (Sensex level) 12300," said Amitabh Chakraborty, president, equity at Religare Securities. |
| Monday's fall was the second biggest - after the 826 points decline in the Sensex on May 18. The CRR hike came at a time when the market was already reeling under pressure. |
| Fourth quarter earnings expectations have already been tempered as fall in the dollar and rising interest rates have eaten into corporate profits, analysts said. |
| Infosys Technologies will kick-start the fourth-quarter earnings season on April 13. Merrill Lynch expects Infosys FY08 (Apr-Mar) earnings per share guidance growth to see a downward revision of 3-5 per cent. |
| The ongoing tension in Iran did not have any significant impact on domestic bourses, dealers said. |
| The Bombay Stock Exchange's 30-share Sensex ended at 12455.37, down 616.73 points or 4.7 per cent from Friday. Intraday it moved between 12425.52 and 12811.93. |
| The National Stock Exchange's 50-share Nifty ended at 3633.60, down 187.95 points or 4.9 per cent. Intraday it moved between 3617 and 3820. Turnover on both the exchanges was roughly Rs 9,800 crore, compared with Rs 10,500 crore on Friday. |
| The CNX Midcap ended down 3 per cent and S&P CNX 500 Index ended down 4 per cent. |
| Bank shares nosedived, as the rate hike will hit their profitability. |
| CNX Bank Index ended down 7 per cent. |
| Shares of other interest rate-sensitive sectors such as automobile and real estate led to huge selling on bourses. |
| Automobile shares were other major laggards on Nifty, after bank shares. |
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