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Sensex drops 162 points


MUMBAI: Falling crude oil prices dampened market sentiment for the second consecutive day with the Bombay Stock Exchange benchmark Sensex on Wednesday closing 162 points lower amid heavy selling pressure from foreign funds.

Foreign institutional investors reportedly were sellers in two sessions in reaction to falling global oil prices, which ruled slightly over $58 a barrel in Asian trade during the day. Rising to 12419.65 in the initial stages, the Sensex gradually moved downwards to the day's low of 12178.83 before closing at 12204.01, a net fall of 162.38 points or 1.31 per cent. — PTI

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