Globally the equity markets plunged today on account of poor economic data from the US markets. With the Jobless claims increasing and the housing starts declining the Asian markets opened on a cautious note and closed in red. Similarly the Indian markets opened in green but there after witnessed only one direction and that was downwards. After opening in green, while Sensex closed at 14665.92 (Down 437 Points), Nifty closed at 4429.90 (Down 157 points). On the sectoral front realty lost 10.54 per cent and even metals lost the sheen. Even Bankex, Consumer Durables and PSU indices were down by more than 4 per cent. We feel it was a combine effect of profit booking and weak global cues.