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Sensex drops 58 points

The Income Tax Department carried out raids on about 23 BSE brokers, which also affected market sentiments on the country's premier bourse.

Marketmen said that the the IT Department has frozen 31 bank accounts belonging to 23 BSE brokers in its operation conducted late evening on December 4.

Reflecting the down trend, the BSE Sensitive Index opened at 3526.02, touched the day's high of 3552.27 declined below the important mark of 3500 to touch day's low of 3469.08 and remained stagnant to that level till the end of trading. The Sensex lost 58.02 points over the previous close of 3527.10 points.

Similarly, the broad-based BSE-100 Index declined by 24.33 points to 1504.38 as against the previous close of 1528.71 points.

The BSE-200 and Dollex Indices closed lower by 5.24 and 0.89 points to 337.79 and 145.51 against the previous close of 343.03 and 145.51 points respectively.

Foreign institutional investors sold heavily at the State Bank of India and at some other prime counters, marketmen said.

UNI