The strong rebound on the bourses witnessed yesterday, 2 July 2008, proved short-lived as share prices dived once again today. A surge in oil price to a record high above $144 a barrel and overnight fall in US stocks that pushed the Dow Jones Industrial Average to bear market, weighed on the investor sentiment with Sensex falling more than 700 points at one point of time. The Sensex ended just above 13,000 mark while Nifty ended below 4,000 mark. Tata Steel fell more than 11%. European markets were in red.