The markets have completely shattered today the first day of week on huge volumes by bad cues from US and Asian markets due to climbing Crude higher, which raises the Inflation further. Realty, technology, capital goods, oil & gas, power and banking stocks witnessed heavy selling pressure, which brought the major indices below their psychological levels during the day. Midcap and small cap stocks also caught in bears hand.

The Nifty has broken 4500 mark (hit new 2008-low) and the Sensex cracked below 15000 during the day but both indices managed to close above those levels and recovered nearly 80 points and 280 points from days low, respectively. In the second half of session, major pharma and metal stocks have got some buying support.

Turnover traded by the markets for the day stood at Rs 76668.53 crore, including Rs 13292.26 crore from NSE Cash segment, Rs 58333.52 crore from NSE F&O and the balance Rs 5042.75 crore from BSE Cash segment.

Realty Index has hit hardest and underperformed other indices. This sector have corrected to a large extent, today Index fell 7.05% or 437.65 points to settle at 5,772.65 while if we see since this correction started, it has corrected over 58% from its high of 13848.09. Selling pressure has seen in Unitech, DLF, HDIL, Phoenix Mills, Ansal Properties, Peninsula Land, Akruti City, Sobha Developers, Indiabulls Real, Anant Raj Ind, Puravankara Proj, Parsvnath and Omaxe, which down 4-10% in a day. DLF has hit new life low of Rs 475 and closed at 481.55, down 7.39% over previous close. The stock is down over 8% from its issue price of Rs 525.

The Sensex closed at 15,128.04, down 2.85% or 444.14 points after hitting an intraday high of 15,202.74 and low of 14,846.18. The Nifty ended at new closing low of 4,500.95 for 2008 after breaching previous low of 4448.05; it has hit a high/low of 4626.45 and 4411.60 before finishing the day at 4500.95, down 2.74% or 126.85 points.

Biggest losers were Jaiprakash Asso (-8.13%), DLF (-7.10%), ONGC (-7.09%), HDFC (-5.37%), Unitech (-8.80%) and BPCL (-7.31%) while gainers - NALCO (5.68%), Cairn India (4.51%), Hero Honda (4.49%), Ranbaxy Labs (4.16%), Reliance Comm (1.50%), Hindalco (1.08%) and Tata Steel (0.35%).

Market breadth was weak; about 614 shares have advanced, 2348 shares declined, and 153 shares remained unchanged.

Technology stocks also hammered a lot, Index crashed 4.2% or 193.61 points at 4,404.98 led by selling in Wipro, HCL Tech, TCS, Infosys, Patni Computer, Satyam and Tech Mahindra. Infosys slipped below Rs 1900 during the day but managed to close above that level.

Capital Goods stocks like Alstom Projects, Jyoti Structures, Astra Microwave, Rel Ind Infra, Punj Lloyd, Areva T&D, Kalpataru Power, BEML, BHEL, L&T have pushed the index lower by 397.01 points or 3.3% to end at 11,635.63.

Oil & Gas have also played important role in markets turmoil; Index tumbled 3.29% or 329.53 points at 9,676.55 due to weakness in HPCL, BPCL, ONGC, Petronet LNG, Essar Oil, IOC, Reliance and GAIL. Cairn India is the only stock trading sharply higher with strong upmove due to surge in oil.

The Nymex Crude touched a new all-time high of USD 139.12 per barrel on Friday but today it slipped below USD 137 a barrel from a record on reports that North Sea Brent shipments will increase 8.6 percent next month.

Bankex lost 232.96 points or 3.21% at 7,033.32, as sell off seen in Axis Bank, Yes Bank, Oriental Bank, Union Bank, Allahabad Bank, HDFC Bank, SBI and Andhra Bank.

Power stocks like Suzlon Energy, Reliance Infra, CESC, Reliance Power, Torrent Power, GVK Power, NTPC and Power Grid Corp have fueled sell off ,which pulled the index down by 2.99% at 2,619.28.

Auto Index fell 2.45% or 103.68 points at 4,123.64. Auto stocks like Amtek Auto, Ashok Leyland, Tata Motors, Hind Motors, Cummins, TVS Motor, Maruti Suzuki and MRF also lost the road.

FMCG stocks like United Spirits, ITC, Tata Tea, HUL, Colgate, Godrej Consumer and P&G have plunged. Index was down 2.06% at 2,313.24.

Metal Index has recovered nearly 547 points during the day from its lows due to buying in some of the heaveweights though it closed at 15,389.61, down 125.78 points or 0.81%. Selling has seen in JindalStainless, Jindal Steel, Jindal Saw, Hind Zinc, Sterlite Ind and Mah Seamless while buyin in NALCO, Sesa Goa, JSW Steel and Hindalco.

Midcap Index slid 2.83% or 179.82 points at 6,170.33. Amongst midcap space, BGR Energy, Orbit Corp, Hind Constr, Patel Eng, Bombay Dyeing, SpiceJet, IBN18 Broadcast, National Fert, Phoenix Mills, Ansal Properties, KS Oils, Deccan Chronicle and DCB were down over 8%.

In the small cap segment, Bajaj Auto Fin, Rajapalayam, Lumax Inds, Mahindra Forg, Unity Infraproj, Prajay Engineer, Panchmahal Stee, Khaitan Electri, Sical Logistics and Guj Amb Exports plunged over 10%. Index fell 279.51 points or 3.63% at 7,416.54.

However, Healthcare Index has shown smart rebound, Index up 0.53% at 4,318.75 due to buying in Lupin, Ranbaxy Labs, Piramal Health and Sun Pharma. Selling seen in Wockhardt, Matrix Lab, Aurobindo Pharma, Panacea Biotech, Orchid Chemical, Aventis Pharma, Pfizer, Novartis India, Divis Labs and Cadila Health.

Most active counters were Reliance Ind, Reliance Comm, Larsen & Toubro, Bharti Airtel, Reliance Petro and Cairn India.

Asian markets were trading weak. Japan's Nikkei tumbled 2.06% or 298.56 points at 14,190.88. Taiwan's Taiwan Weighted fell 2.10% or 183.84 points at 8,561.51. Singapore's Straits Times slipped  2.17% or 68.22 points at 3,078.51. South Korea's Seoul Composite lost 1.73% or 31.66 points at 1,800.65.