Sensex slips over 300points


Mumbai: The Sensex and the Nifty plunged nearly 1.2 per cent at the closing session on Monday, tracking weak global cues as US Federal Reserve Chair Janet Yellen had indicated that the central bank was poised to raise interest rates this year.Besides, profit-booking and lower-than-expected Q4 earnings by some companies too weighed on the domestic sentiment, brokers said.The 30-share BSE index Sensex plunged 313.62 points or 1.12 per cent at 27,643.88 and the 50-share NSE index Nifty declined 88.7 points or 1.05 per cent at 8,370.25. The rupee continued to decline against the dollar and was trading down by 10 paise at 63.62 in the afternoon session on sustained demand for the American currency from banks and importers due to its rising strength in the overseas market.