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Further drop in Sensex

MUMBAI: The Bombay Stock Exchange extended its downslide for the third day in a row as huge selling across auto, consumer goods and metal sectors dragged the Sensex by over 122 points in a highly volatile trading session on Friday. The 30-share index settled at 14063.81, down 122.37 points from 14186.18.

The index lost more than 500 points in the week ended today, recording losses in four trading sessions and could registering a gain on only one occassion.

Even a sharp decline in inflation to its lowest in over eight months failed to offset the downslide on the bourses.

Auto stocks were among the major losers on reports that rising interest rates were eating into the vehicle demands and companies such as Tata Motors were cutting down their output. Tata Motors hit a new life-time low of Rs. 650.05, before closing 3.5 per cent or Rs. 23.70 down at Rs. 653.60 at the BSEHero Honda and Bajaj Auto also recorded losses between 1.5-2.5 per cent in their share prices. — PTI

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