Sensex Stages Recovery; Still Down 850 Points

Benchmark indices fell once again in trade, continuing into a free fall, in which the index has now fallen almost 36 per cent from peak levels.

The Sensex was trading lower by 860 points, as Dow Futures turned negative and most Asian markets were deep in the red. The Nifty too lost ground and was down 260 points, just above the 8,000 points mark. In the early part of the Session, the Nifty had dipped almost 600 points.

Most of the stocks were deep in the red, including the bluechip names like HDFC Bank, HDFC, ICICI Bank, Reliance Industries, Kotak Mahindra Bank.

Almost all of these stocks also hit 52-week lows. Coal India was the biggest loser in trade and lost almost 11 per cent, as the stock went ex dividend. Shares of select private sector banks like Bandhan Bank and RBL Bank continued to slide. In fact, IndusInd Bank fell as much as 10 per cent, despite the management clarifying on various issues.

Yes Bank was among the stocks that fell sharply and was down 13 per cent, as the bank began regular services. The stock has jumped more than 1,000 per cent from lows.

Meanwhile, Asian markets were trading with losses the Japanese Nikkei, the Hong Kong's Hang Sang and the Korean Kospi seeing cuts