Nifty tanks 154 points, cracks below 8,600-level

The NSE Nifty reacted to Indian forces launching surgical strikes across LOC, registering its biggest fall in three months on across the spectrum sell-off, while losing 153.90 points to crack below the key 8,600-level and closing at 8,591.25.
Earlier, the F&O option expiry day saw the market ruling positive on hectic short-covering, also lifted by firm Asian cues on surprise deal by OPEC to cut oil production for the first time in eight year.
During afternoon the market endorsed a knee-jerk reaction following Indian Army's hurriedly called new conference announced a Surgical strike on terrorist launching pads along the LOC in Kashmir, with key indices tumbling like a pack of cards to end sharply red.

Across the board selling was witnessed led by realty 6.98 per cent, PSU banks 3.79 per cent, metal 3.51 per cent, pharma 2.93 per cent, infra 2.83 per cent, commodities 2.64 per cent, banks 2.39 per cent, private bank 2.35 per cent, financials 2.24 per cent, auto 2.20 per cent, media 2.02 per cent, energy 1.95 per cent, FMCG 1.17 per cent, IT 0.99 per cent.
The broader market also witnessed heavy selling pressure with Smallcap shares slumping 5.81 per cent and midcap shares losing 3.80 per cent.
The NSE Nifty opened higher at 8,792.70 and hovered between a high of 8,800.65 and low of 8,558.25 before finishing at 8,591.25, showing a fall of 153.90 points or 1.76 per cent.

Elsewhere, Global markets, including Asian and European stocks rose after the Organization of the Petroleum Exporting Countries (OPEC) took an important step toward a cap on crude-oil output, which helped in lifting oil prices.

Major losers were BHEL 7.57 pct followed by Adani Port 5.24 pct, AuroPharma 5.07 pct, Hindalco 4.40 pct, ICICI Bank 3.99 per cent, Sun Pharma 3.79 per cent, Yes Bank 3.18 per cent, Tata Steel 3.04 per cent, SBIN 2.56 per cent, Tata Motors 2.54 per cent and Reliance 1.67 per cent.
A total of 1,532 scrips declined, 126 scrips advanced, while 47 remained unchanged. Total securities that hit their price bands were 181.

Turnover in cash segment jumped to Rs 45,012.36 crs from Rs 21,605.26 crs yesterday.
A total of 21,370.53 lakh shares changed hands in 11,774,293 trades. The market capitalisation of NSE stood at Rs 10,761,366 crore.