Aban Offshore, Adani Enterprises, Asian Hotels (West), Cairn India, DB (International) Stock Brokers, Greenlam Industries, Hindalco, Hubtown, Jindal Steel & Power, National Aluminium Company, NMDC, Oil India, SAIL, Tata Motors, Tata Steel, Vaibhav Global, Vedanta and Vimal Oil & Foods were some of the notable stocks to record a new 52-week low.

On Wednesday, the BSE benchmark index, the Sensex, opened with a negative gap of 141 points at 28,031, and drifted deeper into red soon after. The selling was seen across-the-board with few exceptions in form of the aviation and oil marketing companies, which seemed to be benefiting from a prolonged fall in Crude Oil prices.

The NSE Nifty sank to a low of 8,341, and settled with a heavy loss of 148 points at 8,363.

The India VIX (Volatility) index shot up by 9 percent to 17.79.