Sensex down by over 400 points

Mumbai, Feb 24 (PTI) The BSE benchmark Sensex was down byover 402 points at mid-session today amid a massive sell-offby domestic and foreign investors sparked by concerns over theworsening situation in the Middle East and growing unease inglobal markets, coupled with a rise in food inflation.

The Bombay Stock Exchange benchmark, which opened in thenegative zone, was down by 402.54 points, or 2.21 per cent, at17,775.79 at 1410 hours today.

Similarly, the broad-based National Stock Exchange indexNifty was also trading lower by 132.60 points, or 2.44 percent, at 5,304.75.

Brokers said the trading sentiment was extremely bearish,taking cues from a series of negative events like a rise ininflation, surging crude oil prices in global markets and thespiralling crisis in Libya.

In addition, weakness in equity markets around the globetempered the mood at home.

Furthermore, the cautious approach adopted byparticipants on the last day of monthly expiry in thederivatives segment on the NSE cast a shadow on the tradingsentiment, they said.