Sensex drops 71 points

MUMBAI JULY 26. Fresh onslaught by punters as well as foreign institutional investors sent stocks tumbling down and pushed the Sensex lower by another 70.61 points to close at 8-1/2 month low at 3024.35 on the Bombay Stock Exchange today.

Reacting to an overnight run down in tech stocks in Wall Street, the FIIs who had been net sellers to the tune of Rs. 129 crores on Wednesday, pressed heavy sales in IT counters as also key old economy shares.

Domestic institutions too were heavy sellers in several blue chip stocks inducing speculators and retail investors to unload their positions.

The BSE benchmark 30-share index opened sharply lower at 3079.33 and gradually moved downwards to the intra-day low of 3011.89 before ending at 3024.35 against 3094.96, netting a fall 2.28 per cent.


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