Sensex drops 145 points

MUMBAI, JULY 26. Led by infotech, communication and entertainment (ICE) stocks, equities once again turned weak today and the Sensex lost the gains recorded yesterday on the Bombay Stock Exchange as speculators resorted to heavy liquidation as a result of selling by foreign funds.

Discounting a smart rise of about 48 points in the Nasdaq composite index yesterday, foreign institutional investors had turned net sellers and reportedly booked profits in ICE scrips at the prevailing levels affecting sentiment.

The BSE sensitive index initially firmed up to 4374.38 but later met with strong resistance as most of the heavyweight counters fell sharply and the index closed at 4191.27 against yesterday's close of 4336.20, showing a net loss of 144.93 points. The BSE- 100 index also fell by 79.99 points to 2123.03 from 2203.02.

- PTI

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Section  : Business
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