The BSE benchmark Sensex on Thursday dipped below 16,000 points level, by losing about 290 points in opening trade. It is the lowest point in nearly two months. Later it recovered its 16 K level and was trading at 16,110, down by 173 points when reports last came in.The wide-based NSE index Nifty too dipped below 4,800 points. It was trading 48 points down at 4,777 points.Brokers said continued profit-taking by funds and investors, driven by overnight losses in the US markets and weak trend in early trade on other Asian bourses resulted in fall of Sensex.