Indian Stock markets closed with a huge loss on Monday due to fears of rising inflation. BSE benchmark Sensex lost 726 points at 15,654 due to selling pressure in all sectors. NSE Nifty closed at 4734 with a loss of 207 points.

HDFC was a major loser on NSE.  The stock declined 9.3% to close at Rs 2369. ICICI bank declined by Rs 66 to close at Rs 769. SBI, PNB, City Union Bank, Central Bank and HDFC Bank closed with huge losses. Tata Communications was down by 8.8% at Rs 507.

ONGC and BPCL were also among major losers on NSE. ONGC closed below 1000 level with the loss of 6.5%.

Real estate major DLF slipped by 7.5% to close at Rs 643. Omaxe was down by 3.88% at Rs 206.

Reliance Industries was down by 3.68% at Rs 2265.  RPL also lost 3.5% to close at Rs 156.

US markets closed marginally higher compared to Friday's close. Dow Jones Industrial Average was up by 46 points at 12,262. NASDAQ was up by 18 points at 2279.