Sensex down 280 points in early trade

The 30-share index, Sensex, which gained 356 points on Friday, tumbled by 280 points to 16,091.02 in the first five minutes of trade today.

The Bombay Stock Exchange benchmark Sensex lost 280 points in early trade today on profit selling by funds in heavy-weight stocks, led by banking sector.

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The 30-share index, Sensex, which gained 356 points on Friday, tumbled by 280 points to 16,091.02 in the first five minutes of trade. Similarly, the wide-based National Stock Exchange's index, Nifty, fell by 78.75 points to 4,863.25.

Stock brokers said reports of weakening trends in global markets mainly dampened the trading sentiments.