Sensex cracks below 27,000-mark, tumbles 580 pts

The benchmark BSE Sensex in mid-session on Tuesday slipped below the 27,000-mark by losing over 580 points on profit-booking ahead of the release of IIP and
inflation data.

The NSE Nifty also succumbed to all-round selling andcracked the 8,200-mark by falling 187.65 points or 2.25% to 8,137.60.

Besides, fresh weakness in the rupee which depreciatedby 41 paise to Rs 64.26 (intra-session) against the dollarand a weak trend in global markets too dampened trading sentiments, brokers said.

After two days of the rally, Sensex slumped 442 points in late-morning deals following weakness in global stocks amid profit-booking by wary operators ahead of the IIP and CPI data to be released later in the day.

The index dipped below the crucial 27,000-mark by plunging 579.48 points or 2.10% to 26,927.82 in mid-session.

The gauge had gained 908.19 points in the previous two sessions on the back of government's move to assuage overseas investors' taxation concerns and hopes of RBI rate cut.

Major losers that dragged down the key indices were Vedanta (5.05%), Tata Steel (4.95%), BHEL (4.18%), ICICI Bank (3.77%), Hindalco (3.45%), Tata Motors (2.95%), L&T (2.71%), NTPC (2.71%), RIL (2.71%),ONGC (2.71%), Bajaj Auto (1.99 %) and Infosys (1.96%).