New Delhi, Feb. 24 -- On a day when trading volumes were low, the Indian markets continued their downward spiral for the fifth straight session on Monday. Benchmark indices slid more than 1% each to their respective eight-month lows, wiping out a staggering Rs.4,34,579 crore in investor wealth in a day.

Total turnover on NSE-at Rs.71,947.32 crore-was its lowest in nearly four months. Experts say in such situations, it takes less effort to move the market, making price swings more exaggerated.

At the same time, foreign investors also continued to pull out monies. On Monday, foreign institutional investors (FIIs) offloaded a net Rs.6,286.70 crore, while domestic institutional investors (DIIs) stepped in with net purchases of Rs.5,185.66 c...