Mumbai: It was absolute mayhem on Dalal Street on Thursday with the markets tumbling down on the back of slow industrial growth figures and spooked by an Asian meltdown.
The Sensex hit an all-time low for 2008 as it crashed over 800 points to breach the January low of 15,332 after opening with a 400-point cut in the morning.
Just before the market close, the Sensex was down 825.82 points or 5.12 per cent at 15302.16 and the Nifty was down 270.85 points or 5.56 per cent at 4601.15.
The broader markets also collapsed with CNX Midcap down nearly 5 per cent and the BSE smallcap index down 4 per cent. The market breadth was negative with an advance:decline ratio of 1:24.
About 468 shares have advanced, 2531 shares declined, and 55 shares are unchanged.
The realty index was the worst hit and was down 11 per cent followed by the metal index, which is down 8 per cent. Energy indices were down over 6 per cent.
Asia ended deep in red with Hang Seng down over 4.8 per cent. Europe has opened deep in red most of the indices down nearly 2 per cent each.
The problem is global in nature and some experts believe that emeging markets will see a further fall and test their January lows. Nifty's January lows were 4450. Sensex has slipped below the January lows of 15332.
It was a sea of red in large cap space SAIL and Cairn India down over 9 per cent, Reliance Energy, BHEL, Unitech down over 7 per cent, Wiproand Bharti Airtel down over 6 per cent are the top losers. TCS, GAIL, RPL, Tata Power, Siemens, HDFC Bank, SBI, Suzlon, Reliance were among the other losers.
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