Sensex tumbles 355 pts at mid-session

The broad-based NSE index Nifty dropped by 114.25 points to 5,315.05 at the same time.

Written by Agencies | Mumbai | Published: February 27, 2012 11:15 am

In a four-day losing streak,the BSE benchmark index Sensex tumbled 355 points at mid-session today on rising concern that crude oil prices might revive inflation worries.

The Sensex,which had lost over 500 points in the last three trading sessions,fell further by 354.74 points to 17,568.83 at 1330 hrs.

Similarly,the broad-based NSE index Nifty dropped by 114.25 points to 5,315.05 at the same time.

Marketmen said profit booking emerged mainly in realty and banking stocks on concerns that high global oil prices would led to rise in inflation as the country imports about 80 per cent of its oil consumption.

They said the crude oil rose to near 10-month high above USD 125 per barrel due to concerns over supply disruption as tension rose over Iran’s disputed nuclear programme.

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