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Sensex drops 205 points

MUMBAI: The Bombay Stock Exchange bySensex on Tuesday fell 205 points as fear of higher inflation gripped the stock market after crude oil stayed above $127 a barrel globally. Weakness in Asian and European markets also contributed to the fall.

The 30-share index moved between 17367.13 and 17136.26 before concluding at 17230.18, a fall of 204.76 points or 1.17 per cent over the previous close of 17434.94. The 50-share Nifty of the National Stock Exchange dropped by 52.75 points to 5104.95. The Sensex spurted by 682 points or 4.07 per cent in last three successive sessions.

Recovering part of initial losses, rupee on Tuesday ended lower by six paise at 42.60/61 against the dollar following weak Asian equity markets.

In a quiet trading at the interbank foreign exchange market, the rupee opened lower at 42.59/61 and dropped further to a low of 42.74 before recovering to 42.60/61, a loss of six paise over the previous close. — PTI

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