A natural question at the start of a new year is whether the stock markets will keep climbing. The S&P 500 Index has enjoyed a particularly good run over the past 15 years, having recently broken through 6,000; it was as low as 732 in early 2009.

The Sensex and Nifty plumetted due to a market crash during the morning trading session as banking and metal stocks fell

Sensex and Nifty 50 fell over a percent each amid heavy selling across the board. Broader markets also reeled under selling pressure as the Nifty Midcap 100 and the Nifty Smallcap 100 indices declined over 2% each.

Adani Ports, Asian Paints, IndusInd Bank and Reliance Industries gained 1.3-1.6 per cent. Tata Motors Ltd, ICICI Bank Ltd, Power Grid, Tata Steel and UltraTech Cement also gained over 1 per cent each.

The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 23,770 level, a discount of nearly 25 points from the Nifty futures’ previous close.

The bears took control of the Dalal Street on Monday, pushing Nifty below the 24,000 level. The Sensex bled more than 1,250 points and tanked over 1.5 per cent to close the session at 77,964.99, while the NSE Nifty50 plummeted close to 400 points and ended trading at 23,

The Nifty 50 concluded the session with a gain of 0.39% at 23,707, while the Sensex wrapped up the session at 78,199, 0.30% higher than the previous close.