Markets slaughtered: Sensex breaches Jan low of 15,332

13 March 2008

3:38 pm: The freefall for the market continues with heavy selling in scrips across sectors. Globally equity markets have seen a sell off but India has underperformed and Sensex has breached its January lows.

Nifty is down over 250 points and Sensex is down 800 points. Nifty has slipped below 4600 mark and Sensex has breached 15,400 mark, Sensex has slipped below the January lows of 15332. Broader markets have also collapsed with CNX Midcap down nearly 5% and BSE smallcap index is down 4%. Markets breadth is negative with advance:decline at 1:24.

At 3.38 hrs IST, the Sensex is down 825.82 points or 5.12% at 15302.16, and the Nifty down 270.85 points or 5.56% at 4601.15.

About 468 shares have advanced, 2531 shares declined, and 55 shares are unchanged.

Realty index is the worst hit and is down 11% followed by metal index down 8%. Energy indices are down over 6%.

Asia ended deep in red with Hang Seng down over 4.8%. Europe has opened deep in red most of the indices down nearly 2% 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.