The markets closed in deep red tracking global peers. It was third biiggest single day fall for Sensex in absolute terms. Sell off was seen in markets across the globe. European markets outperformed other markets. The fall was initiated by US markets due to months of worry about the mortgage and corporate lending markets.

Asian markets ended gloomy. Taiwan was the top loser closing with a loss of 4%.

The market breadth was extremely weak on brisk turnover. Midcaps were not spared either and saw a huge sell off.

Real Estate, metal, cap goods, media were the worst hit. Sugar stocks did good for themselves. BSE Metal and realty index is down over 4%, followed by banking and capital goods index down over 3%

Nifty Futures widened to 50 points.