Markets slump for 3rd day on surging oil prices, massive selling in IT stocks; Sensex drops 1k pts

By Daily Excelsior – MUMBAI, Apr 24 : Equity benchmark indices Sensex and Nifty tumbled over 1 per cent on Friday, falling for the third consecutive day, as a sharp rally in crude prices and massive selling in IT counters weighed heavily on investors’ sentiment. Unabated foreign fund outflows, a negative trend in global markets amid prolonged conflict and continued disruption in the Strait of Hormuz added to the gloom. The 30-share BSE Sensex dropped 999.79 points, or 1.29 per cent, to settle at 76,664.21. During the day, it plunged 1,260.13 points or 1.62 per cent to 76,403.87. A total…