Indian markets dampened on fears after Sensex closed at 562.88 points with Nifty crashing with 165.45 points trading at 7655.
The weak trend saw some midcaps performing in the green trajectory that included BPCL, Coal India, Bharti Airtel. Amongst laggards were Tata Steel, Hindalco and Dr Reddy's Lab. Sectors in red were power, PSU banking and realty.
Sharp decline in the markets was an adverse effect of the poor agriculture output due to monsoon deficit that has further triggered selling activity.
