Indian stock markets ended Monday on a weak note after a sharp selloff. Selling in private banking and IT stocks wiped out the recent recovery. The Sensex plunged 876 points, while the Nifty fell 257 points to close below 22,900. Weak global cues and concerns over quarterly earnings kept investors on the sidelines, while losses in heavyweight banking stocks added to the pressure.Private banks were among the biggest drags after their September-quarter results raised concerns over margins and future earnings. Axis Bank, HDFC Bank and YES Bank fell by up to 5%. The selling pulled the Nifty Private Bank index down nearly 2% and the Nifty Bank index lower by around 1%. Should we expect somthing negative to happen in the stock market in the near future ?
