Sensex off day's low, down 295pts
The BSE Sensex is now at 15,028, down 295 points, after plunging to a low of 14,288. The NSE Nifty is now at 4,463, down 100 points.
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(Updated 1202 hrs)
The Sensex has plunged sharply into red following cues from the Chinese markets. As per reports, the Chinese goverment has cut gasoline prices, which triggered heavy selling into metal, energy and realty stocks in China. Result of which, China's Shanghai index slumped over 7% in intra-day trades.
Similarly, the Sensex has seen a sharp cut and tumbled below the 15,000-mark at 14,938, down nearly 400 points.
Most of the sectoral indices are in the red. The Realty index has declined 6.7% to 3,812. DLF has plunged 8% to Rs 392. Unitech and HDIL have tumbled 7.5% each to Rs 88 and Rs 266, respectively. Reliance Infrastructure has decreased 6.5% to Rs 1,133. Jaiprakash Associates is down over 4.5% to Rs 229.
Tata Motors has shed nearly 8% to Rs 381.
The Metal index has tumbled 5.5% on the BSE. Tata Steel has crashed 8.5% to Rs 428.Sterlite has declined 7.5%. Hindalco is down 4.5%.
HUL, BHEL, ITC, SBI, NTPC and ICICI bank are down 2-4% each.
The Nifty is now at 4,445, down 118 points.
The market breadth is fairly negative - out of 2,452 stocks, 1,552 have declined, while 819 have advanced.