Nifty plunges below 8,400

The market witnessed second round of selling amid reports that GST Bill may miss the April 2016 deadline. Metal stocks bear brunt of the selling pressure.The India VIX (Volatility) index has soared over 7 percent to 17.02.The breadth too is fairly bearish, with over 1,150 declining stocks versus 328 advancing shares on the NSE.

The market has extended losses in the noon deals amid reports that the Rajya Sabha has again been adjourned for the day, and hence GST Bill may now miss the April 2016 deadline.

The BSE Sensex is now languishing around the lows of the day at 28,645 - down 221 points. The NSE Nifty has tumbled 74 points to 8,389.

The India VIX (Volatility) index has soared over 7 percent to 17.02.

The broader market has also seen deep cuts. The CNX Nifty Junior, Midcap and the Smallcap indices are down around 2 percent each.

The breadth too is fairly bearish, with over 1,150 declining stocks versus 328 advancing shares on the NSE.

Among sectors - the CNX Realty index has plunged over 4 percent to 173.80, and the Metal index has tumbled over 3 percent to 1,971. The Bank Nifty has declined 1.8 percent to 18,291. Most of the sectoral indices are down 1.5-2.5 percent each.

BPCL is the major loser in the Nifty-50. The stock has slumped over 6 percent to Rs. 869.

Hindalco and Vedanta have plunged over 5.5 percent each to Rs. 97.35 and Rs. 117, respectively. Coal India has shed 4.6 percent at Rs. 375.

Cairn India, SBI, Tata Motors and Bharti Airtel have declined over 3 percent each to Rs. 157, Rs. 260, Rs. 358 and Rs. 393, respectively.

On the positive front, Sun Pharma has surged 3.5 percent to Rs. 871.

HCL Technologies, Infosys and TCS have rallied around 2.5 percent each to Rs. 965, Rs. 1,135 and Rs. 2,665, respectively.

Tech Mahindra and Tata Steel too have jumped nearly 2 percent each.