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Global rout sends Sensex 525 pts lower; metal index tumbles 7%, PSU bank 4%

Only six of 30 Sensex stocks ended in the green, mainly from the FMCG and financial space

Experts further said that retail investors should be clear on whether they are taking short-term positions based on the sentiment or investing for the long term.

Tracking a rout in the global markets, the benchmark indices tumbled for the second day on Monday. Investors were spooked by a possible spillover of China's Evergrande's debt woes, fall in commodity prices and ahead of US Federal Reserve policy meet outcome. 

Both the indices ended the volatile session near day's low. The BSE Sensex shed 525 points to end at 58,491 while the NSE Nifty closed the day at 17,397, down 188 points. Only six of 30 Sensex stocks ended in the green, mainly from the FMCG and financial space.

Sectorally, barring the Nifty FMCG index all indices ended in the red. Nifty Metal tumbled the most followed by the Nifty PSU Bank index, down 6.6 per cent and 4.18 per cent, respectively. Nifty Realty, Bank, Pharma also tanked nearly 2 per cent each.

The fall in broader markets was more pronouned as the BSE Midcap index plunged 1.84 per cent and the BSE Smallcap 1.8 per cent.