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Sensex drops 85 points

MUMBAI: The stock markets on Thursday witnessed wild movements after an initial rally as a dramatic sell-off sparked by heightened uncertainty about the survival of UPA Government pulled the benchmark Sensex down by 85 points.

The market started swinging abnormally after speculation that Left parties have decided to withdraw support to the UPA coalition Government spread like a wild fire on Dalal Street.

Initially, the market had risen by 306 points over last close on strong global cues. The Bombay Stock Exchange barometer gyrated in a range of 14554.93 and 14128.72 before ending at 14163.98, down 84.68 points from Wednesday’s close of 14248.66. — PTI

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