The 50-share CNX Nifty index tumbled by a whopping 152 points, or 1.85 per cent - its second biggest single-day drop till now in 2014 - to finish at 8,067.60 on the National Stock Exchange (NSE). As many as 43 of the 50 Nifty shares posted losses.
With sentiment already dented by recent contraction in industrial output data, widening trade deficit and a sharp fall in rupee against the dollar led to rising concerns about domestic growth.
Metal stocks bore the maximum brunt of the selling, with the sectoral index tanking 4.25 per cent. This followed by realty (4.05%), FMCG (3.07%), Banking (2.95%), Energy (1.88%), Auto (1.83%) and Infra (down 1.68%).
Mid and small-caps, too, were hammered.
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ICICI Bank, ITC, HDFC, SBI, HDFC Bank, Tata Motors, Dr Reddy's, Reliance, Sesa Sterlite, HUL, ONGC, L&T, Sun Pharma, M&M, Hindalco, Kotak Bank, NTPC, Bank of Baroda, Maruti and Tata steel were among the major contributors to index fall.
Turnover in the cash segment shot-up to Rs 18,260.22 crore from Rs 14,011.68 crore yesterday. A total of 10,239.33 lakh shares changed hands in 84,83,269 trades, while market capitalisation stood at Rs 92,03,336 crore.