The 30-share Index, Sensex lost more than 500 points on the back of strong selling activity in key stocks.

It also touched a low of 12,810.31.

Midcap and Smallcap index turned down over 2% each.

At 1:14 p.m., the BSE Sensex stood at 12,816.85, down 513.66 points, while the broad-based NSE Nifty lost 141.3 points at 3,899.10.

The market breadth was sharply negative as it experienced 541 progressions as against 1880 declinations.

All sectoral indices traded negatively led by BSE Bankex, which declined 7.35%, BSE Consumer Goods, Power and Realty lost more than 3% each.

The major losers’ on the BSE included HDFC Bank, Ranbaxy, ICICI Bank, M&M, HDFC, SBI, ITC, Hindalco, Tata Motors and Wipro.

Satyam was the only gainer at the BSE Sensex.