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The S&P BSE Sensex slipped over 300 points in trade on Monday following muted trend seen in other Asian markets. The fall in the index was led by losses in RIL, ICICI Bank, Cipal and Tata Motors. 

The 50-share Nifty index slipped below its crucial psychological level of 8450, weighed down by losses in auto, metal, oil & gas, realty, and Pharma stocks.India's cenbank says repo bids fall to 25.86 bln rupees.Indian banks' refinancing with RBI unchanged at 19.51 bln rupees.India's cenbank says banks' cash balances fall to 3.62 trln rupees.

Shares of Birla Corporation surged 12.5 percent intraday as the company is going to acquire Jojobera and Sonadih cement businesses from Lafarge India. The company either directly or through its wholly owned subsidiary, shall acquire both cement businesses for an enterprise values of Rs 5000.

The broader markets were also facing the heat of selling pressure. The BSE mid-cap index fell 0.42 per cent and the small-cap index slipped 0.61 per cent.From the mid-cap space, Unitech, J P Associates, J P Power Ventures, Reliance Capital, MRPL, United Breweries, Oberoi Realty and Essar Oil among the prominent losers.

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