The market plunged deeper into the red around noon as stocks across the board declined further on relentless selling. FMCG, information technology, oil, bank, realty and auto stocks are down with sharp losses.
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Capital goods, metal and pharma stocks are also seen struggling. Power and consumer durables stocks, which were seen finding some support earlier in the day, are drifting down as well. Midcap and smallcap stocks have outperformed, but not many of them are up with significantly sharp gains.
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Mirroring heavy selling, the Sensex tanked to 15,564.89 a little while ago, and is currently down with a huge loss of 332.88 points or 2.09% at 15,579.25. The Nifty index of the National Stock Exchange is down 1.96% or 92.45 points at 4618.35.
Index heavyweight Reliance Industries has lost over 3.5%, contributing significantly to the market's sharp fall today. ACC, DLF, ITC and Reliance Infrastructure are down by 3% - 3.5%.
Larsen & Toubro has lost nearly 3%. Tata Consultancy Services, Maruti Suzuki, State Bank of India, Hindustan Unilever, Maruti Suzuki, Wipro, HDFC, Infosys Technologies and Tata Power are trading lower by 2% - 2.75%. HDFC Bank, Jaiprakash Associates, ICICI Bank, Sun Pharmaceuticals, Tata Motors and Hero Honda are also down with sharp losses.
Ambuja Cements has declined to Rs 84, recording a loss of 5.7%. Siemens, Jindal Steel, Axis Bank, Cipla, SAIL, Ranbaxy Laboratories, IDFC, Power Grid Corporation, Unitech and Punjab National Bank have lost 1% - 3%.
Besides DLF and Unitech, Anant Raj Industries, Sobha Developers, Ansal Infrastructure, India Bulls Real Estate, Parsvnath Developers and Omaxe are the prominent losers in the realty space.
India Cements, Zee Entertainment, Century Textiles, Sesa Goa, Nagarjuna Construction Company, Godrej Industries, Entertainment Network of India, India Bulls Financial Services, Sasken Communications and Hindustan Oil Exploration have declined sharply today.
Suzlon Energy rules firm with a sharp gain of 5.7%. GAIL India is up nearly 5%. Bharti Airtel, Hindalco, Idea Cellular, Reliance Communications and BHEL are up with sharp to moderate gains.
IFCI is up with a sharp gain of 8.2% at Rs 47.50. Mundra Port, Patni Computer Systems, BEL, Syndicate Bank, Crompton Greaves and Lupin have gained 3% - 6% on strong buying support. JSW Steel, IDBI Bank and Canara Bank are also trading firm with sharp gains.
