Markets End Deep in Red

Markets plunged in the last leg of trade due to wide spread sell-off in the broader markets. The Sensex fell 454points, to 19,242 and the Nifty slumped 137 points, to 5766. Broader markets were beaten down badly on margin deficit selling and recent furor by SEBI on stock price rigging. The midcap index plunged 4.3 per cent and small cap index was off 6 per cent. The frenzy in the markets is also set off due to global concerns and it will be difficult for markets to make fresh highs in December. On the global front, European stocks rose to a two-year high as reports reassured investors that the global economic recovery is intact. Asian stocks and U.S. stock-index futures advanced. ASML Holding NV advanced 6.8 percent after the company raised its forecast for bookings in the fourth quarter. Aker Solutions ASA gained 0.7 percent after the company said it will separate two construction units. Volkswagen AG led carmakers lower after China said it may end tax incentives for buying passenger cars next year.