It was a worse session for the markets, which corrected sharply and ended at days low of the first day of week. The Sensex closed below 16000 mark and the Nifty below 4750 levels. Biggest culprits were realty, PSU, metal, power, banking, capital goods, technology and oil stocks. European markets also crashed, which added to negative sentiments. Market breadth was very weak. Midcap and small cap stocks hit badly.

The Sensex touched an intraday high of 16,632.72 and low of 15,991.21 before closing the day at 16,063.18, down 352.39 points or 2.15%. The Nifty finished at 4739.60, down 130.5 points or 2.68% after hitting high/low of 4908.80 and 4713.

Top losers were NTPC, ACC, Hindalco, Reliance Infra, Nalco, Unitech and TCS while Maruti, ITC, Hero Honda and Sun Pharma top gainers.

Market breadth was weak, about 736 shares have advanced, 2221 shares declined, and 155 shares remained unchanged.

Realty stocks collapsed like a pack of card and were worst underpeformers of the day. Realty Index fell 280.53 points or 4% to settle at 6,728.13 due to huge sell off in HDIL, Puravankara Proj, Unitech, Mahindra Life, Sobha Developer, DLF and Omaxe.

Metal stocks like Sesa Goa, Jindal Steel, NALCO, Hindalco, Hind Zinc, Tata Steel and SAIL have lost shine. The Metal Index crashed 3.66% or 619.37 points at 16,295.26.

Power stocks including NTPC, Reliance Infra, Tata Power, Torrent Power, Power Grid , Suzlon Energy and Reliance Power completely darken. Index was down 107.50 points or 3.66% at 2,828.74.

Bankex crumbled 260.26 points or 3.37% to end at 7,454.33 as selling pressure seen in Kotak Mahindra, Axis Bank, Yes Bank, Karnataka Bank, HDFC Bank, Bank of Baroda, SBI and ICICI Bank.

Capital goods stocks like Punj Lloyd, Praj Industries, Triveni Engg, Alstom Projects, L&T, Bharat Bijlee and BHEL were remained under bears control. Capital Goods Index went down 341.89 points or 2.6% at 12,808.75.

Oil & Gas Index fell 190 points or 1.83% at 10,206.71 on the back of sell off in GAIL, Cairn India, Petronet LNG, ONGC, RNRL, BPCL, Reliance, HPCL and IOC.

Telecom stocks like Tata Teleservices, Reliance Comm, Idea Cellular, Tata Comm and Spice Comm also crumpled.

Technology stocks have given up entire morning gains and ended in negative terrain. IT Index was down 1.37% at 4,580.35 as sell off in TCS, Tech Mahindra, HCL Tech, Wipro, Satyam and Infosys.

Healthcare Index shot down 1.04% at 4,350.42 due to weakness in Sterling Bio, Lupin, GSK Pharma, Orchid Chemical, Aurobindo Pharma and Wockhardt.

Selling was also seen in FMCG stocks like United Spirits, Godrej Consumer, Marico, Colgate, Nestle, Britannia, Tata Tea and HUL. Index fell 0.67% at 2,411.48.

BSE Midcap Index fell 2.61% at 6,584.19 and Small Cap index was down 2.13% at 7,959.51. Amongst midcap space, Monsanto India, Honeywell Autom, DCB, Bombay Dyeing, Raymond, LIC Housing Fin and Orbit Corporation were down over 7%.

Top small cap losers like Zodiac Clothing, Sanghi Ind, Asian Electroni, Easun Reyrl, Indo Tech Trans, Cinemax India and Hatsun Agro fell over 8%.

Most active counters on the bourses were Reliance, L&T, Tata Steel, SBI and ICICI Bank.

Total turnover traded by the markets stood at Rs 51868.63 crore including Rs 11816.96 crore from NSE Cash segment, Rs 35257.77 crore from NSE F&O and Rs 4793.9 crore from BSE Cash segment.

Asian markets were trading marginally higher. Shanghai Composite was up 0.44% or 14.96 points at 3,448.31. Hang Seng gained 1.15% or 281.54 points at 24,814.66. Jakarta Composite was up 7.41 points or 0.3% at 2,451.76. Nikkei 225 Average rose 7.46 points or 0.05% at 14,346. Straits Times was up 0.14% or 4.52 points at 3,197.14. Taiwan Weighted was up 42.02 points or 0.49% at 8,661.10. However, Seoul Composite lost 0.24% or 4.48 points at 1,847.54.