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Sensex falls over 500 points; Nifty slips below 8250 as oil dips below $50/bbl 

The S&P BSE Sensex plunged as much as 512 points in trade on Tuesday following Asian markets, which were trading lower as investors are starting to worry that the prolonged slump is signaling a weaker global economy.

"That fear shook financial markets Monday as oil plunged again, dipping below $50 for the first time in more than five years. The drop prompted a big sell-off, not just among energy stocks, but across the entire stock market," AP reported.

The Nifty was at 8259 down 119 points or 1.4 per cent. It touched a high of 8327.85 and a low of 8229.35 in trade today.

The S&P BSE Midcap Index was down 1.3 per cent and BSE S&P Smallcap Index edged lower by 1.1 per cent.

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