BSE Sensex lost 606.14 points or 5.73% to 9,975.35, after collapsing to 9,911.32, its lowest level in over two years in intra-day trade.
Reliance Industries slumped 6.58% to Rs 1305.25, extending its two-day fall, on fears of fall in refining margins. The stock hit a 52-week low of Rs 1290 during the day. The stock hit a high of Rs 1438 during the day. The stock has a 52-week high of Rs 3,252.10 on 15 January 2008.
Reliance Industries has 13.64% weightage in Sensex and therefore any sharp fall in the stock may drag the key indices further lower.
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