Mumbai: The Bombay Stock Exchange benchmark Sensex on Wednesday fell sharply by 337 points at mid-session on heavy selling by foreign funds ahead of settlement in derivatives segment amid weakening global trend.
The 30-share index declined by 337.89 points to 16,442.57 points at 1230 hrs as brokers and funds off-loaded positions in realty, auto and metal stocks.
The wide-based National Stock Exchange index Nifty fell below psychological level of 4,900 points by losing 110.40 points to 4,897.50 points. It commenced the day below 5,000 points level.
Marketmen said trading sentiment remained bearish in line with subdued global markets on reports that China may impose further measures to squeeze money supply.
The Tokyo Stock Exchange`s benchmark Nikkei-225 closed lower 0.71 per cent as a stronger yen weighed on exporters. The US stock markets had closed marginally lower last night.