Indian equity benchmarks crashed in the opening trade on the back of fears of another round of recession in the world's biggest economy US.
Markets across the globe were on sellers' radar. US equity markets were down 4-5% yesterday. Today Asian markets cracked 2-5%.
The 30-share BSE Sensex was trading at 17,256, down 436 points and the 50-share NSE Nifty fell 135 points to 5,195.
Market breadth was pathetic - about 35 shares were declining for every one share gaining.
All major heavyweights were under selling pressure. L&T, ICICI Bank and SBI were down 3-4%. Jaiprakash Associates plunged 5.5%.
Metal stocks too were on sellers' radar. Hindalco, Sterlite, SAIL and Sesa Goa dn 3.5-5%.
Realty major DLF was down 3%. Shares of India's largest lender SBI fell 2.5%.
Cairn India slipped 5% as crude declined to USD 86 a barrel yesterday.
Anil Dhirubhai Ambani Group companies shares - Reliance Power, Reliance Capital, Reliance Infrastructure and Reliance Communications lost 4%.
Technology stocks too were bleeding - TCS, Infosys, Wipro and HCL Tech declined 2.5-4%.
However, BPCL gained 1% on decline in crude oil prices.
BL Kashyap lost another 11.5% today.
Gammon Infra, IVRCL, Lanco Infra, Triveni Engg and Punj Lloyd slipped 4.5-6%. Indiabulls Real and HDIL were down 5%.
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