Indian equities on Friday (June 28) saw a massacre as it lost more than 600 points followed by weak worldwide cues, rising inflation and continued selling action in pivotal stocks.

The 30-Share Benchmark index - BSE Sensex ended the day negatively and fell below 14,000 mark, triggered by the big carnage in the Asian as well as US markets.

Sensex plunged 544.13 points during the early session to touch a low of 13,877.70.

For the week ended June 14, inflation rate climbed up to 11.42 percent, as against 11.05% during the last week. The inflation rate is currently at the highest since May 6, 1995, when it was 11.11 percent.

Fueled by rising commodity prices, this will be the 18th straight week that inflation rate has been soaring above 5.5 percent, RBI’s target by the end of the fiscal year in March 2009.

Finally, the BSE Sensex marked its closure with a heavy loss of 619.60 points at 13,802.22 after touching a high of 14,127.76 and a low of 13,760.24, while the broad-based NSE Nifty ended the day at 4,136.65 after losing 179.2 points.

Asian stocks also closed negatively on Friday on worries over rising inflation and oil prices, which raised to a record above USD 141 a barrel.

BSE Midcap declined 3.19%, whereas Smallcap Index fell 2.68%.

The stock market experienced 601 advancements as against 2,051 declinations.

Among the sectoral indices, BSE Bankex and Auto declined more than 5% each; BSE Power, Metal, Realty and IT fell over 4% each.

The major losers on the Sensex were Tata Motors, HDFC, Wipro, Reliance Infra, M&M, Ambuja Cement, Jaiprakash Associates, ICICI Bank, DLF, SBI and Maruti.

Among Realty stocks, DLF fell around 5%. Phoenix Mills plunged 13.11%, India Bulls Real Estate was down 7.76%, Mahindra Lifespace shed 6.28% and Ansal Infrastructure declined 5.52%. Omaxe, Sobha Developers and Parsvnath Developers also posted sharp losses.

Auto giants TVS Motor and Tata Motors lost more than 8% each followed by Mahindra & Mahindra, which dropped by 7.61%. Ashok Leyland, Maruti, Hero Honda also dipped.

The banking sector saw hefty losses on yesterday, including Bank of India (slumped 8.42%), ICICI Bank (plunged 6.40%) and State Bank of India (fell 4.76%). Axis Bank, Oriental Bank of Commerce, Punjab National Bank, Kotak Bank, Union Bank of India, Bank of Baroda, IDBI Bank, Canara Bank, Indian Overseas Bank, Federal Bank, Yes Bank, Allahabad Bank, Andhra Bank, Karnataka Bank, UCO Bank, Indian Bank and J&K Bank also witnessed huge losses.