After opening on a dreary note at 9,316.33, 90.14 points, the 30-share index BSE Sensex fell deep into the pessimistic zone this afternoon.

The Sensex plunged on account of heavy selling pressure witnessed across frontline stocks. Second rung stocks were under pressure. Metal, realty and banking sectors posted sharp losses.    

BSE Midcap and Smallcap index lost 2.13% and 1.56% respectively.

All sectoral indices were trading in red zone. BSE Metal lost 5.51%, Realty declined 4.88%, Bankex dropped 4% and Power down by 3.61%.

At 02:45 p.m., the 30-share index Sensex lost 328.50 points at 9,077.97 after hitting a high of 9,331.13 and a low of 9,024.45.

In the meantime, the broad based Nifty lost stood at 2,767.95, down 105.05 points, after touching a high of 2,869.20 and a low of 2,748.55.

Overall market breadth was sharply negative as it saw 751 advancements as compared to 1,619 declinations.

Biggest gainers in the 30-share index were Sun Pharmaceutical Industries (2.57%), and Jaiprakash Associates (0.51%).

The major losers in the Sensex were Wipro (8.08%), Reliance Capital (7.02%), State Bank Of India(6.74%), Tata Steel (6.69%), Reliance Energy (6.64%), and Sterlite Industries (India) (6.35%).