Sensex down 342 points at pre-close trade

At 3:09 pm, the benchmark 30-share BSE index was down 342.45 points at 16,307.19.

The Bombay Stock Exchange (BSE) fell more than 2 per cent on Monday led by ICICI Bank and Reliance Industries, amid concerns about surging inflation and record high oil prices.

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At 3:09 pm, the benchmark 30-share BSE index was down 2.06 per cent, or 342.45 points, at 16,307.19, with 27 components falling.

The broader 50-issue NSE index was down 1.71 per cent at 4,861.90.