Indian stock markets plunged sharply as the global credit crisis deteriorated. 

After a week of tumult, the US government has finally cleared $700 billion bailout package on Friday.

Despite receiving other positive news such as marginally fall of inflation figure, reduction in fuel prices, the Sensex and Nifty are testing their new lows.

Real estate, metal, consumer durables, power, oil & gas stocks led the declining charts.

Today, the 30-share index BSE Sensex opened at 12,284.49, down 241.83 points.  

The Sensex, on Friday (Oct 3) ended with a loss of 529.35 points, whereas the NSE Nifty declined by 132.45 points. 

At 10:04 a.m., Sensex lost 369.41 points at 12,156.91, after hitting a high of 12,284.49 and a low of 12,156.91. 

Meanwhile the broad based Nifty stood at 3,692.75, down 125.55 points, after touching a high of 3,820.85 and a low of 3,688.65. 

The overall market breadth was sharply negative as it saw 149 advancements as against 552 declinations. All the Sensex components were trading negatively.

There were no gainers at the 30-share index.

The major losers on the BSE were Sterlite Industries (India) (6.44%), Jaiprakash Associates (6.20%), Tata Power Company (5.03%), Tata Steel (4.77%), Bharti Airtel (4.55%) and Housing Development Finance Corporation (3.92%).