It was an extremely weak session for the markets as they closed deep in red with rest of Asia. The cues from US were negative slumped on weak economy data giving rise to concerns over recessionary trend. Asia ended down in the range of 4-6%. Among the top losers were stocks from IT, metal, realty and oil & gas sector.

On the primary markets front, it has been disappointing for Emmar MGF IPO it has been suscribed only 0.58 times. Most of the bids were at Rs 540/share the lower end of price band.

Fertilisers stocks stood out in today's session with Deepak Fertilisers up over 6% followed by Chambal and Nagarjuna Fertilisers.

All the BSE indices ended deep in red. BSE IT index was down 5.5%, metal index was down over 4% BSE oil & gas down over 3.5%, realty index was down over 2%.

Sensex closed down 523.67 points or 2.81% at 18139.49, and the Nifty down 161.35 points or 2.94% at 5322.55.

About 1379 shares have advanced, 1576 shares declined, and 55 shares are unchanged.

The BSE Midcap Index ended at 7,970.74 down 1.3%.

The BSE Smallcap Index ended at 10,412.81 down 0.5%.

The BSE Bankex was down 2.5% at 10,690.01. IOB, ICICI Bank, Centurion bank, Axis closed lower.

The BSE Capital Goods Index closed at 16,571.65 down 2%. Suzlon, Reliance Infra, Siemens, Triveni Engineering closed lower.

The BSE Auto Index closed at 4,900.05 down 2.4%. Tube Investment, Apollo Tyres, Escorts, Ashok Leyland, Hind Motors closed lower.

The BSE Metal Index closed at 16,189.46 down 3.6%. JSW Steel, Jindal Steel, Jindal Stainless, Hind Zinc closed lower

The BSE FMCG Index closed down 2% at 2,189.40. Colgate, ITC, Nestle, Dabur ended lower.

BSE Oil and Gas Index closed at 11,160.83 down 2.2%.  BPCL, HPCL, IOC, Reliance Natura, GAIL ended lower.

The BSE IT Index was at 3,813.82 down 5.6%. HCL, Infosys, Tech mahindra, TCS, Tech Mahindra closed lower.

The NSE cash turnover was at Rs 13914.74 crore and the NSE F&O turnover was at Rs 42234.95 crore. The BSE cash turnover was Rs 6291.41 crore. Total market wide turnover was at Rs 62441.10 crore.

Asian markets were trading weak. Hong Kong's Hang Seng tumbled 5.35% or 1327.49 points at 23,481.21. Japan's Nikkei slipped 4.13% or 567.34 points at 13,178.16. Singapore's Straits Times plunged 3.53% or 107.21 points at 2,931.21. However, South Korea's Seoul Composite was up 0.38% or 6.44 points at 1,696.57.