Sensex falls 510 pts, Nifty ends below 10,200; all sectoral indices in the red

Gravita India, Dilip Buildcon, Graphite India and ITDC gained up to 7 percent while Central Bank of India, IDBI Bank, SBI and PNB were mildly lower.

3:30 pm Market Closing: Benchmark indices corrected sharply in last couple of hours of trade, with the Sensex falling 509.54 points or 1.51 percent to 33,176, weighed by index heavyweights Reliance Industries, ITC and HDFC twins.

The NSE Nifty was down 165 points or 1.59 percent to 10,195.20. About two shares declined for every share rising on the BSE.

Midcaps also participated in the correction as the Nifty Midcap was down 1 percent.

Amtek Auto, GVK Power, Radico Khaitan, Adani Enterprises, NIIT Technologies, Oberoi Realty, Kolte-Patil, NLC India, Reliance Infrastructure, Reliance Capital, Future Enterprises, Hindustan Copper, EIL and SAIL were down up to 7 percent. MMTC, Graphite India, HEG, Canara Bank and Syndicate Bank gained up to 8 percent.