Sensex ends 416 pts lower, Nifty below 12,300 as global oil prices shoot up

Brent crude prices surged past the $65 a barrel level as unrest hit key production regions

The benchmark indices slipped on Monday following the underwhelming December quarter (Q3) results of some large banks, earnings disappointment by heavyweights Reliance Industries and Tata Consultancy Services (TCS), and a spike in crude oil prices over Libya shutting down two production bases.
 
The Nifty index logged its biggest single-day fall in nearly four months, declining 128 points, or 1 per cent, to 12,225. The Sensex ended at 41,529, down 416 points, or 1 per cent — the most since January 6. Both indices had hit fresh highs in early trade but failed to sustain the gains. The India Vix