Bombay Stocks Drop

The Sensex index hits 12,000 but fails to hold it.
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Bombay stocks dropped for the fourth time in five sessions Thursday, selling off sharply after earlier passing 12,000.

The BSE Sensex lost 103.5 points to close at 11,835. Losers on the Sensex included

ONGC

, the exploration major, which slipped 6%,

ACC

, the cement major, down 3.5%, and

Infosys

(INFY) - Get Report

, the IT outfit, off 2.8%.

The top gainers on the Sensex were

RIL

, which rose 1.9%,

L&T

, the construction and engineering major, up 1.6%, and

Hindalco

, the aluminium major, up 1.4%.

Aventis Pharma

lost 0.4% despite a 56.3% rise in net profit for the quarter ended March 31.

Indian Overseas Bank

rose 3.4% as the bank posted 30% increase in profit for the quarter ended March 31.

Reliance Industries

rose 1.9% after posting a 9% rise in profit for the quarter ended March 31.

Merck

gained 1.4% as the pharma company's profit nearly doubled.

This story was created through a joint venture between TheStreet.com and IRIS.