Sensex tumbles 70 points at closing
The benchmark index declines further for the second day in a row by closing 69.75 points lower on Thursday.business Updated: Jun 07, 2007 16:17 IST
The benchmark Sensex fell for the second day in a row on the Bombay Stock Exchange on Thursday with funds selling auto, banking and technology shares, pushing the index down by about 70 points.
The Sensex, which plunged nearly 280 points on Wednesday, declined further by 69.75 points at 14,186.18 after moving between 14,362.58 and 14,139.09 points.
Marketmen said there were less buying of vehicles after a rise in interest rates, which was further fuelled on reports that car and two-wheeler makers have cut production.
They said firming rupee against dollar also influenced trading in information technology stocks, led by Infosys, as it
might effect revenue of these companies.
Similarly, the National Stock Exchange index Nifty fell by 18.75 points at 4179.50. It swung between 4230.05 and 4139.30 points.