Markets have shattered completely ahead of inflation numbers, which are likely to inch up higher. CNBC-TV18 poll suggests that it may be at 12.62% for the week ended August 9 as against 12.44% in earlier week. Rate sensitives and infrastructure stocks slaughtered very badly. Oil & gas, technology and metal also got hammered. Sell off in European and Asian markets fueled to negative sentiments as well.

Only one stock in Sensex 30 and three stocks in Nifty Fifty ended in green. The Sensex closed at 14,243.73, down 434.50 points or 2.96% after hitting an intraday low of 14,201.18.

BSE Midcap Index was down by 118.91 points or 2.04% at 5,707.46 and Small Cap Index ended at 6,937.02, down 129.21 points or 1.83%.

Dealers feel that there was selling in Nifty futures to hedge ahead of inflation numbers and also a buzz that two large long-only funds have sold today.

Major contributors to this free fall are SBI, Reliance Ind, ONGC, DLF, ICICI Bank, Reliance Comm, BHEL, HDFC, HDFC Bank and Bharti Airtel.

Banking, realty and infrastructure stocks smashed out on fears that if inflation rises further then another rate hike by RBI is possible in near term.

Bankex plunged 357.87 points or 5.16% to settle at 6,577.91. SBI, HDFC Bank, ICICI Bank, Kotak Mahindra and PNB lost around 4-7%.

Realty stocks collapsed like a pack of card. This includes Indiabulls Real, DLF, Unitech, Peninsula Land and Sobha Developer tumbled 5-7%. Index fell 262.99 points or 5.05% at 4,944.82.

Power stocks like NTPC, Reliance Infra, GVK Power, Suzlon Energy, Torrent Power, Reliance Power and GMR Infra slipped 3-6%. Index closed with a loss of 86.87 points or 3.27% at 2,573.27.

Capital Goods Index lost 361.79 points or 2.95% at 11,907.73 due to selling in Punj Lloyd, BHEL, Elecon Eng, L&T and Praj Industries, which slid 3-6%.

Metal stocks like Ispat Industries, NALCO, Sesa Goa, Bhushan, Hindalco, Tata Steel and SAIL also ended in red, down 2-5.7%. Index plunged 2.47% or 308.74 points at 12,166.91.

In the telecom space, Tata Comm, Reliance Comm, TataTeleservice, MTNL, Idea Cellular and Bharti Airtel fell 2-4.5%.

IT Index crashed 2.07% at 3,822.46 as selling was seen in HCL Tech, Wipro, TCS, Financial Tech, Infosys, Patni Computer and Tech Mahindra.

Oil stocks like HPCL, IOC, RNRL, BPCL, Essar Oil, ONGC and Reliance Ind also got hammered. Oil & Gas index plunged 194.35 points or 1.94% at 9,838.12.

Healthcare Index lost 1.51% at 4,271.14 due to sell off in Sun Pharma, Bilcare, Divis Labs, Glenmark, Opto Circuits, Sun Pharma Adv, Piramal Health and Wockhardt, which fell 2.5-3.6%

Auto Index skid 1.51% at 3,800.18 on the back of weakness in Exide Industries, Cummins, MRF, Bharat Forge, M&M, Ashok Leyland, Tata Motors, and Maruti Suzuki.

FMCG stocks like Dabur India, HUL, Tata Tea, United Brewerie, Marico and ITC have lost ground. Index fell 0.99% at 2,140.30.

Amongst midcap stocks, HEG, GTL Infra, India Infoline, Deccan Aviation, Rel Ind Infra, STC India, EID Parry and SREI Infra tumbled 6-11.7%.

In the small cap space, Noida Toll, Simplex Project, Modern India, PVP Ventures, Jay BharatMarut, Piramal Life, Subex and Walchandnagar plunged 7-11%.

Reliance Industries, SBI, L&T, Tata Steel and ICICI Bank were most active shares on the bourses.

Market breadth was very weak; about 823 shares have advanced while 2007 shares declined. Nearly 335 shares remained unchanged.

Turnover traded in markets was better than yesterday, which stood at Rs 64,691.60 crore. This includes Rs 8,566.12 crore from NSE Cash segment, Rs 52,004.60 crore from NSE F&O and balance Rs 4,120.88 crore from BSE Cash segment.

Asian markets ended on a weak note. Shanghai fell 3.63%, Hang Seng -2.46%, Nikkei -0.77%, Straits Times -1.49%, Kospi -1.83% and Taiwan Weighted -1.74%. However, Jakarta Composite gained 0.78%.