Mumbai: The BSE benchmark Sensex recovered some of its initial losses but still down by 106 points on Thursday due to persistent selling pressure in view of political crisis following the decision of Trinamool Congress (TMC), a key ally of the UPA government, to withdraw its support.

Sensex resumed lower from 18,292.22 and dropped further to 18,291.93. Immediately recovered to 18,423.65 before quoting at 18,389.58 at 1025 hrs, still down 106.43 points or
0.58 per cent from Tuesday's close.

The NSE 50-share Nifty also dropped by 34.70 points or 0.62 pct to 5,565.35.

Major losers were BHEL (3.02 pc), Gail India (2.41 pc), HDFC (2.19 pc), Sterlite (2.11 pc), L&T (1.80 pc), Hero MotoCo (1.54 pc), RIL (1.32 pc), Tata Steel (1.27 pc) and Coal India (1.14 pc).

Asian stocks fell from the highest level since May on Thursday after Japanese exports dropped for the third month. Key indices in China, Hong Kong, Indonesia, Japan, Singapore,
South Korea and Taiwan dropped by up to 1.1 per cent.

However, foreign institutional investors continued to make heavy purchases for the third day in a row on Tuesday.  FIIs bought shares worth a net Rs 1049.18 crore September 18 as per the provisional data from the stock exchanges.

(Agencies)

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