Chinese effect: Sensex down 500 Points

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MUMBAI:Continuing its slide, the benchmark BSE Sensex in mid-session tanked over 500 points and the NSE Nifty cracked the 8,400-mark after Chinese shares extended rout and fears of Greek eurozone exit hit trading sentiment. Reflecting steep fall in blue-chips, the 30-share index which dipped below the crucial 28,000-mark in early trade, continued to slide and tumbled by 504.63 points or 1.79 per cent to 27,667.06 during mid-session, with all the sectoral indices led by metal and auto, falling up to 4.14 per cent. The NSE Nifty also succumbed to all-round selling and cracked the 8,400-mark by falling 162.65 points or 1.91 per cent to 8,348.15.  Later sitation has improved but stil indices were down at the point 27,687.05 and 8,363.05 respectively.

Besides,fresh weakness in the rupee which depreciated by 17 paise to Rs 63.63 (intra-session) against the dollar too dampened trading sentiments, brokers said.Sentiment was badly hit following a rout in other Asian markets with a near 7 per cent crash in Shanghai despite additional measures announced by the government to shore up to the tumbling market, they added.

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