Sensex ends 365 pts down; IIP nos, Greece woes spook mkt

Indian equity market fell prey to falling industrial production growth, sliding rupee and rising European woes on the first day of trading week. The 30-share BSE Sensex dropped 365.23 points, to close at 16,501.74. The 50-share NSE Nifty has managed to hold the 4900 mark amid sell-off, though it lost 112.65 points, to close at 4,948.80. 

Benchmarks cracked as July Industrial output data came in at dismal 3.3% against 8.8% in June and rupee fell to 47 to a dollar.

Rajesh Agarwal, Head of Research at Eastern Financiers said the market has already seen a cut.