Markets witness a large selling, taking the indices lower by over 2%. Stocks from the capital goods, metals have seen significant cuts.
Jindal Steel is the top loser among the Sensex stocks, down 6.3% to Rs 574. Tata Steel has shed over 5% to Rs 451. BHEL has slipped 5.2% to Rs 288 on reports that Tamil Nadu chief minister J. Jayalalithaa on Friday scrapped the 1,600 megawatt (MW) power joint venture (JV) and announced that the government would fully fund the project itself.
DLF, Hindalco, Tata Power, ICICI Bank, Hero MotoCorp, Larsen & Toubro, Tata Motors, NTPC, Mahindra & Mahindra, State Bank of India, Wipro, Maruti Suzuki and Reliance Industries are also trading lower by 2-4.6% each.
Realty, metal and capital goods sector stocks are amongst the worst hit ion trades so far. The BSE Realty index 4.4% or 85 points at 1,842 levels. Anant Raj Industries is the top loser from this space, down nearly 7% to Rs 64. HDIL, DB Realty, Unitech, Sobha Developers, Sunteck Realty and Phoenix Mills are also among the laggards.
Metal index has also shed 4.2% or 513 points at 11,560 levels and the Capital Goods index is down 3.6% to 10,180 levels.
Power, Auto, Bankex, Consumer Durables, PSU, Oil & Gas, IT and Healthcare indices have also shed 0.4-3.4% each.
Sesagoa, has plummeted over 10% in the wake of its merger with Sterlite industries.