Pre-budget jitters push Sensex down 677 points

The BSE-30 share benchmark Sensex tumbles 677.92 points, or almost 5 per cent at 12,800 points in the first five minutes of trade.

The stock markets crashed more than 677 points in opening trade today on all-round selling by funds as well as retail investors triggered by melt down in global markets.

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Selling pressure also gathered momentum ahead of general budget.

The BSE-30 share benchmark Sensex which had lost over 1200 points since February 9, tumbled 677.92 points, or almost 5 per cent at 12,800 points in the first five minutes of trade.

Similarly, the nifty index on the wide-based National Stock Exchange dipped by 219.05 points to 3,674.85.

Stock brokers said melt down on the global stock markets, triggered panic selling by funds here.

All the BSE-30 and NSE-50 shares were in the negative zone with steep falls.