Sensex ends 164 pts lower; oil & gas, telecom, metals drag - Moneycontrol.com

The benchmark Nifty slipped into the red in the last one hour of trade and closed below an important psychological level of 5000 on the back of fall in European markets. The markets had opened marginally higher and were consolidating in the first half of trade after Monday's sharp sell-off.

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European markets like France's CAC 40, Germany's DAX and Britain's FTSE were down 1.2-1.5% for the third consecutive day on rising European debt crisis. The IBEX Index (Spain) was down 1.5% and Greek's Athex Composite was down 1.3%. Investors were still worried about recovery in European economies. Power companies' shares in Germany' declined more than 3% as government announced that they will impose a tax on nuclear fuel, which will increase government revenues. EON AG and RWE AG dropped over 3%.

Full Story: Sensex ends 164 pts lower; oil & gas, telecom, metals drag - Moneycontrol.com