Mumbai: The benchmark BSE Sensex plunged to over one-year lows after falling by 421 points in late morning deals to 25,343.94 following heavy selling in the absence of any triggers looming the sentiments.
Lower Asian cues ahead of the key US non-farm payroll data also weighed on market sentiment. Selling was led by realty 4.60 per cent, bank 3.17 per cent, power 3.10 per cent, consumer durables 2.73 per cent, metal 2.70 per cent, auto 2.40 per cent, while the second line, mid-cap and small-cap, shares lost nearly up to 3 per cent, respectively.
The BSE Sensex resumed higher at 25,772.58 and hovered between 25,775.38 and a low of 25,193.41, it was quoting 25,343.94 at 1125 hours, showing a loss 420.84 points or 1.63 per cent over its previous close.
The 50-share Nifty also dropped below 7,700-mark dipping by 136.70 points or 1.75 per cent to 7,686.30 at 1125 hours. Stockwise major loser were, Vedanta 4.39 per cent, followed by Tata Steel 4.33 per cent, Tata Motors 4.33 per cent, Axis Bank 3.94 per cent, ICICI Bank 3.73 per cent, Dr Reddy's 3.13 per cent and Hindalco 3.11 per cent.
Meanwhile, foreign investors sold shares worth Rs 1,573.42 crore yesterday, as per provisional data. Other Asian shares were trading in red as caution prevailed ahead of the the release of monthly US jobs report.
