Markets have further sold off after the break. The BSE benchmark Sensex has slipped below the 12,000 levels, the lowest since September 2006. In Asia, the cut has further deepened as well. The Nikkei and the Hang Seng index have declined by 4% each. Even the Jakarta Composite in Indonesia has declined by 6.5%.
At 12:24 pm (IST), the BSE 30-share Sensex plunged 540 points at 11,986 and the NSE Nifty was down 167 points at 3,649.
All the 30 components of the Sensex are in the red with index heavyweights like Reliance Industries, Infosys and L&T are among the major laggards.
All the BSE Sectoral indices are in the red with BSE Realty index among the top loser down 8%, followed by BSE metal index (down 7.3%), BSE Consumer Durables index (down 7.3%) and BSE Power index (down 6%).