Nifty plummets below 4600; RIL slips nearly 5%, DLF dips 9%

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At 14:45 hours IST, the Nifty tested the 4600 level for the first time since September 4, 2009, on the back of weak European and US cues. European markets were down around 1.3% each and the US index futures fell 0.5% each. The sell-off continued for the sixth consecutive day and heavy selling was seen in the same stocks like realty, metal, technology, capital goods, power and select telecom stocks.

Heavyweight Reliance Industries tumbled nearly 5% and SBI was down over 4%. However, Bharti Airtel gained 3.2% and ICICI Bank rose 1%.

The Nifty fell 112 points to 4,598 and the Sensex declined 387 points to 15,509. The broader indices slipped over 3%, as about 189 shares advanced while 1,082 shares declined on the NSE.

In the European markets, UBS tumbled over 4% post disappointing quarterly numbers. It posted loss in the quarter. RBS (Royal Bank of Scotland is planning to sell some businesses.

On the sectoral front, the BSE Realty Index tumbled 8.5%. Metal was down 4.7%, Oil & Gas, IT, Power, Capital Goods and TECk indices fell 2-3%. FMCG and Auto indices slipped 1-1.7%.

In the largecaps, Suzlon Energy tumbled 10.70%. DLF, Hindalco, Unitech, ACC, HCL Tech, Sterlite Industries, Reliance Capital, Jaiprakash Associates, Reliance Infrastructure, ABB, Reliance Industries and Tata Steel fell 4.5-9%.

In the midcap space, Jet Airways, MRF, Bayer Cropscience, Marico and Apollo Tyres gained 3.3-5.7% while Indiabulls Financial tumbled 19%. Indiabulls Real, Rolta, Gujarat NRE Coke and Dishman Pharma slipped 10-12%.

In the smallcap space, Hawkins Cooker surged 14.7%. Mukand, Savita Oil Tech, Geekay Finance and Bliss GVS went up 4-7% while Genus Power, Indiabulls Securities and KPR Mill lost 16-17%. Godawari Power and ICSA fell 12%.

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