Sensex tumbles by 301.14 points

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Mumbai, May 26 (UNI) The Sensex today plunged by 301.14 points on the Bombay Stock Exchange to end at 16,348.50, mirroring negative global cues on concern over constant hike in crude oil prices.

Starting the day on a negative note below the 16,500 level at 16,468.50, the benchmark index languished below the level throughout the day on panic selling pressure across the board.

Sensex touched a day's low of 16,300.88, fell 348.70 from its previous close of 16,649.64, before closing with a negative gap of 1.81 per cent in late trade.

Meanwhile, the broader based Nifty index of National Stock Exchange ended the session on weak note at 4,875.05, down by 71.50 points from its previous close of 4,946.55 after touching a day's low of 4,858.00. However, it resumed the day on firm note but failed to hold on to the gains and later skid into red.

The stock brokers observed that the sustained selling pressure in the banking, metal and capital goods stocks pulled the key indices at their lower ends today. The downfall was witnessed in majority of overseas markets, especially in Asian Markets, they added.

The market breadth was negative as out of 2,758 stocks, only 667 advanced whereas 2,043 declined and 48 were unchanged today. All the sectoral indices ended in red. The BSE Midcap index fell 2.54 pc to 6,760.77 and Smallcap index tumbled 2.34 pc to 8,318.20.

The NSE's futures&options (F&O) segment turnover was at Rs 44103.52 crore, higher than Rs 41317.97 crore last friday.

BSE clocked a turnover of Rs 4134 crore against Rs 5,389.63 in the previous session.

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