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Sensex drops 40 points

MUMBAI DEC. 3. The prevailing bull-run was arrested on the Bombay Stock Exchange today as emergence of profitbooking by institutional investors and operators pulled down equity prices and the Sensex reacted by 40.22 points to close at 3230.14.

While foreign institutional investors reportedly booked profits in front-line software stocks such as Infosys, Wipro and Satyam Computers, domestic funds sold select new economy as well as old economy shares.

Second-rung stocks, which were in the limelight in the past couple of days, also dropped sharply on heavy selling by speculators. Operators and retail investors also joined the selling bandwagon, which dampened sentiment further.

The BSE-30 share sensitive index opened slightly better at 3276.70 against yesterday's close of 3276.70 and moved up further to a high of 3292.87.

PTI

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