China's Gain=India's Pain: Dalal Street indices slump

The NSE Nifty fell 1.4%, or 368.10 points, to close at 25,810.85. The BSE Sensex declined 1.5%, or 1,272.07 points, to close at 84,299.78. Japan's Nikkei 225 Index slumped 4.8% with Shigeru Ishiba set to take over as the country's new Prime Minister on Tuesday. His appointment has also made global investors uneasy as higher interest rates would lead to a stronger yen, prompting investors to reverse carry trades.