The benchmark indices ended the session sharply lower despite the Infosys results and the industrial output numbers beating the estimates.

The Nifty closed below the psychological level of 4000. The BSE Sensex touched an intraday low of 13,418 before closing the day at 13,504 down 1.84% or 253.

The Nifty shed 77 points or 1.89% to settle at 4004, after hitting a low of 3976. Among the broader indices - the BSE Midcap Index was up 1.92% and the Smallcap Index fell 1.8%. All the sectoral indices closed in the red barring IT.

The markets saw a huge sell-off in the last hour of trade on the back of down fall in oil & gas, power, capital goods, realty, banking and telecom stocks.

The market breadth was weak and the volumes were lower as compared to previous session. The July Nifty future ended with a 32 point discount at 3972.

For the week the Nifty fell 9.5 % and the Sensex down 10%, the largest weekly drop since October 2008.

Movers & Shakers

The BSE oil & gas index shed 3.3 % on sharp decline in Reliance Ind, RNRL, BPCL, GAIL and Reliance Petroleum. The stocks fell over 4 % each.

The BSE power index lost 2.5 %. Reliance Infrastructure, Lanco Infratech, Reliance Power and Tata Power slipped 5-7.5%.

The BSE capital goods index fell 2.3 %. Praj Industries was down 8.13%. Suzlon Energy, ABB, Siemens, L&T, Gammon India and BHEL fell 2-3.6% The realty index on the BSE also dropped 2.1 %. HDIL, Orbit Corp and Unitech were down 3-7%.

The BSE IT index rose 2.2 % on better-than-expected results from Infosys. Infosys advanced nearly 3 % to Rs 1,726. Wipro also gained 3.4 % to close at Rs 384.

In the Sensex pack Reliance Infra was the biggest loser down 6.5 % to Rs 1,029. JP Associates, RCom and HDFC were the other main losers in the pack. The stocks fell over 4.6 % each.