Indian share prices plunged 3.66 percent on Monday in line with other Asian bourses after a big drop on Wall Street last week that led overseas funds to sell, dealers said. They said foreign hedge funds had sold heavily on concerns over a weaker yen against the dollar and as local funds failed to buy to shore up the market.
The 30-share Mumbai stock exchange Sensex index fell as much as 541.19 points to its day low of 12,344.44 and ended down 471.09 points or 3.66 percent to 12,415.04. "The worst may not be over. We advise long-term investors to hold on to equities as the markets could rebound after near-term volatility," said Atul Hatwar of brokerage Crosseas Securities.