Sensex tumbles over 200 points at midsession

The Bombay Stock Exchange benchmark Sensex on Friday tumbled by over 200 points at midsession on heavy profit selling by funds in blue-chips led by the information technology segment.

The Bombay Stock Exchange benchmark Sensex on Friday tumbled by over 200 points at midsession on heavy profit selling by funds in blue-chips led by the information technology segment.

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The 30-share barometer, which had gained 482 points in previous day's trading, dropped by 216.54 points at 9,013.21 at 1300 hrs as most of the heavy-weight stocks led by Infosys Technologies, Tata Consultancy and Satyam Computers saw downward movement.

As the market took a plunge, the Information Technology segment index suffered the most, slipping by 112.09 points at 2352.65.

The wide-based National Stock Exchange index Nifty also fell by 57.85 points at 2730.15.

Marketmen said major players indulged in booking profits at existing higher levels.

They said expectations of an interest rate cut and an industry assistance package had been factored into Thursday's 5.5 per cent surge.

In the broader market, gainers led losers by a ratio of more than 3:1 on a volume of 179 million shares.