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Bombay Stocks Drop Again

Bombay Stocks Drop Again

The Sensex slides 1% the day after a 2.6% selloff.

The Sensex slides 1% the day after a 2.6% selloff.

Bombay stocks sold off for the second day in a row Thursday, heading into a long weekend on a low note.

The BSE Sensex dropped 119 points to close at 11,237. The index traded as low as 11,008 before recovering at the end of the day to sharply narrow its losses. Still, the Sensex has dropped 4.3% in the last week.

Drug maker

Cipla

lost 5%, chemicals outfit

Grasim

sank 3.9% and

ICICI Bank

(IBN)

gave up 3.3%. Information technlogy outfit

Satyam

and electricals name

BHEL

also fell.

Car maker

Maruti

gained 3.4% and pharmaceuticals house

Dr. Reddy's

rose 3.3%. Other gainers included software seller

Tata Consultancy

,

National Thermal Power

and

Tata Steel

.

Dr Reddy's got Food and Drug Administration clearance to sell fexofenadine hydrochloride tablets. Tata Consultancy rose on reports that the company is in the final stages of negotiations with Deutsche Bank for an outsourcing deal.

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