The bears have turned quite aggressive in late afternoon trade, and wilting under the onslaught, stocks across the board have declined sharply, recording notable losses. Mirroring widespread selling, all the sectoral indices are down in the red at present. The Sensex, which tanked to 17,508.60, is now down with a loss of 206.30 points or 1.16% at 17,569.40. The Nifty is down 69.45 points or 1.3% at 5243.10, slightly off a low of 5225.65 it touched a little while ago.
Realty stocks have slipped deeper into the red due to sustained selling pressure. Power, metal, automobile and capital goods stocks are also down with sharp losses.
Shares of Anil Dhurubhai Ambani Group companies are among the worst hit in the sell-off this afternoon. Reliance Infrastructure has plunged 22.6% to Rs 509. Reliance Communications is down with a big loss of 16.6% at Rs 92. Reliance Capital has tumbled to Rs 401, losing over 16% and Reliance Power is down with a loss of 11.4 at Rs 110.
Jaiprakash Associates has plunged 12.7%. Hindalco has lost 6.7%. Tata Motors, Hero Honda and BHEL are trading lower by 4.75% - 5%. Tata Consultancy Services, Tata Steel, Bajaj Auto, ONGC, Sterlite Industries, NTPC, Maruti Suzuki, ITC, State Bank of India, Jidnal Steel, Larsen & Toubro and Cipla are also down with sharp losses.
Lanco Infratech has nosedived nearly 19%. GMR Infrastructure has lost almost 17%. Jai Corp, Aban Offshore, IVRCL Infrastructure, BGR Energy, Essar Oil, Punj Lloyd, Suzlon Energy, Unitech, IDFC and Mangalore Refineries & Petrochemicals are down 10% - 16% now.
Bucking the weak trend, Mahindra & Mahindra (4.3%), HDFC (2.1%) and ICICI Bank (1%) are trading notably higher. Infosys Technologies, Hindustan Unilever, Reliance Industries and Wipro are up with marginal gains.
