Markets collapse: Realty, metal, bank stocks plunge

17 March 2008

The markets have collapsed and are trading deep in red as heavy selling in scrips across sectors continues. Broader markets have underperformed the benchmark indices and both the midcap and smallcap indices are down over 6% each. NSE advance:decline was at 1:17. All sectoral indices are under selling pressure, not a single Sensex & Nifty stock is trading in green.

At 3.11 hrs IST, the Sensex is down 872.19 points or 5.53% at 14888.33, and the Nifty down 247.65 points or 5.22% at 4498.15.

About 424 shares have advanced, 2585 shares declined, and 46 shares are unchanged.

Sensex is down over 800 points and is hovering below 15,000 mark. Indian markets are the worst performers in Asia underperforming all Asian peers. Nifty went below 4500 and is trading below that level, it is down 250 points.  

The BSE banking and consumer durable indices tumble over 7% respectively. The BSE realty index lost 6.27% and capital goods, pharma, oil & gas indices down over 4% each.  

Top losers on the Sensex are ICICI Bank at Rs 792.45 down 9.76%, Jaiprakash Asso at Rs 216.35 down 8.42% and Tata Steel at Rs 669.05 down 6.46%.