Mumbai: Dalal Street went into a tailspin after global markets crashed on Wednesday morning and is showing no signs of recovery.
Sensex and Nifty are trading deep in red with not a single stock in green.
Equity markets across globe cracked due to concerns over rise in default customers in the US mortgage market, suggesting a slowdown in the US economy.
Sensex is down nearly 400 points and the Nifty is down over 110 points. Midcap and smallcap stocks are struggling at lower levels.
At 1332 hrs IST, the Sensex was down 434.39 points or 3.35 per cent at 12548.59, and the Nifty was down 120.45 points or 3.19 per cent at 3650.1.
About 578 shares have advanced, 1677 shares declined, and 41 shares are unchanged. Banking, IT stocks are the worst hit.
Rathesh Kumar of Citigroup Indian Equities says that the current fall is a correction but the Sensex should end the year above the 14,000 mark.
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