BSE Bankex, Realty, Auto, Finance, Energy indices plunge over 10% each

A sharp selloff engulfed equities from all sectors as the BSE Bankex, Realty, Auto, Finance and Energy indices fell over 10 percent each in the morning trade on March 23.

All sectoral indices were in the red, falling between 5 percent to 12 percent.

Among the bank and financial stocks, shares of City Union Bank, Axis Bank, ICICI Bank, Federal Bank, IndusInd Bank and State Bank of India plunged over 10 percent.

On the other hand, shares of Sunteck Realty, Sobha, Godrej Properties, Phoenix Mills, Oberoi Realty and DLF cracked over 10 percent from the realty space.

In the auto index, shares of Hero MotoCorp, Maruti and Mahindra & Mahindra cracked over 10 percent each.

In the energy sector, shares of Confidence Petroleum India, Reliance Industries and Chennai Petroleum Corporation plunged over 10 percent each.

Market barometer Sensex and Nifty hit lower circuits in the morning trade on March 23.

Tracking the volatility in the market which has so far eroded more than Rs 20 lakh cr in terms of market capitalisation on the BSE, Sebi introduced a certain measure to curb volatility.

In order to curb the extreme volatility witnessed in the stock market, SEBI has introduced measures such as revising the market-wide position limit to 50 percent which will reduce fresh short positions in individual stocks.

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