Sensex Crashes 901 points

The BSE Sensex tumbled 900.84 points or 5.12% to 16,677.88registering its second biggest single day point loss on a closingbasis. It was also Sensex's second biggest single day fall inpercentage terms. BSE Sensex's fall of 1,408.35 points or 7.41% to17,605.35 on 21 January 2008 is its biggest ever fall in record
The BSE Mid-Cap index was down 4.11% at 7,364.85, while the BSESmall-Cap was down 4.05% at 9,238.35. Both these indicesoutperformed the Sensex.
The market breadth was poor: on BSE, 396 advanced as compared to2330 that declined. 40 stocks remained unchanged.
BSE clocked a turnover of Rs 5090 crore as against Rs 6,721.65crore on Friday, 29 February 2008.
Nifty March 2008 futures were at 4882, a discount of 71 points ascompared to spot closing of 4953.
India's largest private sector firm by market capitalization andoil refiner Reliance Industries (RIL) fell 6.24% to Rs 2304.75.
The BSE Bankex fell 6.72% to 9,434.44. It underperformed theSensex. ICICI Bank (down 6.10% at Rs 1,024.45), State Bank of India(down 8.83% at Rs 1,923.40), Punjab National Bank (down 9.65% at Rs545.85), Kotak Mahindra Bank (down 9.07% at 728.70), Bank of India(8.48% at Rs 329.05) and Axis Bank (down 7.70% at Rs 940.30),declined.
The BSE Power index fell 6.35% to 3,437.75. It underperformed theSensex. Suzlon Energy (down 10.40% at Rs 252.05), Tata Power (down6.78% at Rs 1,306.05), CESC (down 6.17% at Rs 500.55), RelianceEnergy (down 5.24% at Rs 1,485.55), Torrent Power (down 5.17% at Rs140.35) and Reliance Power (down 4.32% at Rs 412), slipped.
The BSE Realty index fell 6.39% to 8,953.95. It underperformed theSensex. DLF (down 8.44% at Rs 714.70), Parsvnath Developers (down6.27% at Rs 251.85), Ansal Properties & Infrastructure (down 6.22%at Rs 202), Housing Development & Infrastructure (down 5.97% at Rs805.20), Mahindra Lifespace Developers (down 5.92% at Rs 536.70),Indiabulls Real Estate (down 5.78% at Rs 596.25) and Unitech (down5.50% at Rs 339.50), skid.
Auto stocks, which bucked the weak sentiments in early trades, soondipped into red in the later half of trading session. The BSE Autoindex fell 0.80% to 4,848.05. It outperformed the Sensex. Escorts(down 2.63% at Rs 103.55), TVS Motor (down 2.40% at Rs 42.65),Ashok Leyland (down 1.74% at Rs 36.80), Mahindra & Mahindra (down1.23% at Rs 684.25), Bajaj Auto (down 1.08% at Rs 2,255.50) andTata Motors (down 1.01% at Rs 693.15), dipped.
However, Hero Honda Motors (up 1.26% at Rs 774.10) and MarutiSuzuki (up 0.82% at Rs 874.30), rose. The auto stocks were indemand as cut in excise duties in the Union Budget raisedexpectation of pick up in sales in coming months.
Among the side counters, India Infoline (down 10.81% at Rs 996.25),Indiabulls Financial Services (down 10.78% at Rs 548.80), RelianceCapital (down 10.29% at Rs 1,631.10), Adlabs Films (down 9.66% atRs 757.90) and Steel Authority of India (down 9.65% at Rs 230.80),declined.
Essar Oil clocked the highest turnover of Rs 257.71 crore on BSE.Reliance Petroleum (Rs 237.78 crore), Onmobile Global (Rs 234.85crore), Reliance Industries (Rs 230.46 crore) and Reliance Capital(Rs 208.06 crore), were the other turnover toppers on BSE in thatorder.
Reliance Petroleum recorded the highest volume of 1.41 crore shareson BSE. Reliance Natural Resources (1.21 crore shares), IFCI (1.09crore shares), Essar Oil (1.01 crroe shares) and NagarjunaFertilisers and Chemicals (99.69 lakh shares), were the othervolume toppers on BSE in that order.
The key benchmark indices witnessed an unabated selling pressureacross sectors, mirroring weakness in the global stock markets. 26out of 30 stocks from the Sensex pack were in the red. Even themid-and small-cap stocks tumbled, as reflected in the poor marketbreadth.