Equity benchmarks saw sharp cut in the February series due to inflation worries and fiscal deficit concerns, reacting to rising oil prices more than USD 100 a barrel on New York Mercantile Exchange. The 30-share BSE Sensex dropped 1,052.02 points or 5.63%, to close at 17,632.41 and the 50-share NSE Nifty fell 341.6 points or 6.1%, to end at 5262.70 on record volume.
The BSE Auto Index was down 10.5% and Metal down 6%.
Among frontliners, Ranbaxy Labs, M&M, Hero Honda, Jaiprakash Associates, Tata Motors and Maruti plummeted 11-18%.
The BSE Realty Index was hit the hardest in this turmoil, which fell 18.2%. Unitech tanked 35% and Orbit Corp plunged 30%. Indiabulls Real and DLF were down 17% & 11%, respectively.
Non-index losers - Punj Lloyd, Jet Airways and Kingfisher Airlines cracked 33-40%.
Among broader indices, the Nifty Junior, CNX Midcap and BSE Small Cap indices slipped 7-12%.
In midcap space, Moser Baer, IVRCL Infrastructure, Bajaj Hindusthan, S Kumars Nationwide, Lanco Infrateech, Aban and Sun TV lost 24-29%.
MTNL, Ashok Leyland, GVK, TVS Motor, United Spirits and IRB Infra were down 16-22%.
Anil Dhirubhai Ambani group stocks like Reliance Communications, Reliance Media, Reliance Power and Reliance Capital fell 20-29%.
