Bears ruled the D-Street for the third consecutive day in a row which pushed the Nifty below its crucial long-term moving average of 200-DEMA placed for the first time since November 2016\. The Nifty has also registered its fresh low for the year 2018 on Monday.

The main culprit which dragged down Nifty was metals, telecom, realty, smallcap, midcap, oil & gas and PSU banking stocks, as well as IT. Well, frankly speaking, everything seems to be covered in one color and that is ‘RED’.  

The Nifty50 ends below 10,100 mark after breaching 200-day exponential moving average (DEMA) placed on 10,114 as on 19 March.

The S&P BSE Sensex closed 252 points lower or 0.76 percent at 32,923 weighed down by losses in Infosys, ICICI Bank, Bharti Airtel, HDFC, RIL, SBI, and HDFC Bank.

The Nifty50 ended 100 points lower or 0.99 percent at 10,094 weighed down by losses in HCL Technologies, Tata Steel, Bharti Airtel, Tech Mahindra, and BPCL.

Broader market underperformed. The S&P BSE Smallcap index closed 1.98 percent lower while the S&P BSE Midcap index ended 1.58 percent down.