Indian equity benchmarks opened sharply lower following a sell-off across globe. All significant sectors were hit in the morning trade including metal, realty, financial, technology and oil & gas. The Nifty dropped below the 4900 level.
At 9:19 hours IST, the 30-share BSE Sensex plunged 305 points to 16,158 and the 50-share NSE Nifty lost 93 points to 4,850.
The Indian rupee depreciated by 0.57 to 49.54 per dollar.
Commodities related stocks like Hindalco, Tata Steel, Sesa Goa, JSPL and Reliance Industries were under selling pressure as commodities sliped last week.
Rate sensitives like DLF, Kotak Mahindra Bank, ICICI Bank, Axis Bank, PNB and SBI too were down.
BHEL fell 2.5% to Rs 320 post ex-split (from Rs 10 to Rs 2).
Technology stocks like Wipro, HCL Tech, Infosys and TCS dropped more than 1%.
Among others, L&T, Tata Power and Jaiprakash Associates were on sellers' radar.
However, Reliance Communications, Reliance Capital, Reliance Infrastructure and Reliance Power were up 1.5-2% as CBI gave clean chit to Anil Ambani.
Maruti Suzuki gained 1% post September sales numbers.
The CNX Midcap fell 84 points to 7,009. About six shares declined for every share rising.
Sintex Industries plunged 6.5%.
South Indian Bank, Unitech, Kingfisher Airlines, Voltas, Jaypee Infra, JSW Steel, Sun TV, Orchid Chemical, Pantaloon Retail and Yes Bank were down 2-4%.
Recently listed PG Electroplast continued its downtrend - lost 15% to Rs 257.
TVS Motor rose 1.5% post September sales numbers.
Global cues
Asian markets fell 2-4%, following weak US cues. Only Shanghai was flat.
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