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Sensex tanks by 262 points on weak Asian cues

Mumbai: The BSE benchmark Sensex tumbled by over 262 points in opening trade today amid sustained selling pressure influenced by a weakening trend in Asian markets on worries over the euro zone debt crisis.

The 30-share index, which lost 244.31 points in the previous session on Friday, plummeted further by 262.16 points, or 1.59 per cent, to 16,191.60 in opening trade today.

In a similar fashion, the wide-based National Stock Exchange Nifty index declined by 77.45 points, or 1.57 per cent, to 4,865.80, led by stocks of metal and banking firms.

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Brokers said sustained selling by funds amid a weakening trend on other Asian bourses and concerns about the debt crisis in the euro zone mainly dampened the trading sentiment here.

In the Asian region, Hong Kong`s Hang Seng Index was down by 3.03 per cent, while Japan`s Nikkei declined by 2.26 per cent in early trade today.

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