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Sensex crashes by over 100 points

The ups and downs of share prices continued on the Bombay Stock Exchange today as equity prices reacted sharply on massive unloading of shares by foreign institutional investors and bears.

The BSE Sensex which had gained 240 points yesterday, today tumbled by 108.62 points to close at 3292.33 points.

The wave-like graphic curve of the price movement reflected in the volume of the business which also came down modestly in the absence of bull operators.

Most of them have covered outstanding short covering of 50 per cent on Wednesday, as per the Securities and Exchange Board of India's instruction on Tuesday, leading brokers said.

The appreciation in the Indian rupee against the US dollar failed to attract the FII investors to invest in the capital market.

They continued with selling pressure and sold sizeable number of blue chips like Reliance Industries Limited, ACC and TISCO.

The domestic institutions, mainly Unit Trust of India and Life Insurance Corporation of India, who were the major players were also restricted to fresh investment by the authority.

UNI