BackRIL, ONGC drag Sensex 251 points lower
Nifty ends below 7,500; ONGC falls 5.89%, while RIL declines 3.70%
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Mumbai: The 30-share benchmark S&P BSE Sensex fell on Thursday as shares of oil and gas companies retreated after the cabinet committee on economic affairs deferred by three months the gas price increase due from 1 July, and amid the expiry of June derivatives contracts.
The Sensex closed 0.99%, or 251.07 points, lower at 25,062.67, while the National Stock Exchange’s broader barometer, the 50-share CNX Nifty, shed 1%, or 76.05 points, to end at 7,493.20.
Among losers, Oil and Natural Gas Corp. Ltd (ONGC) fell 5.89% to ₹ 411.10 and Reliance Industries Ltd (RIL) fell 3.70% to ₹ 1,011.95.
Hindustan Petroleum Corp. Ltd fell 4.34% to ₹ 398.10, Bharat Petroleum Corp. Ltd shed 2.25% to ₹ 567.80, Oil India Ltd slipped 3.10% to ₹ 570.35, GAIL (India) Ltd fell 1.64% to ₹ 459.75, Indian Oil Corp. Ltd fell 3.99% to ₹ 328.30, Petronet LNG Ltd fell 4.68% to ₹ 173 and Mangalore Refinery and Petrochemicals Ltd lost 2.91% to ₹ 68.45.
The S&P BSE Oil and Gas index, the top sectoral loser, was down 3.88%. The S&P BSE Realty index fell 2.74%. The S&P BSE Capital Goods and S&P BSE Auto gained 0.88% and 0.13%, respectively, after the government extended the excise duty cuts for automobiles, capital goods and consumer durables until 31 December.
Among gainers, Dr Reddy’s Laboratories Ltd rose 1.03% to ₹ 2,504.80, while Larsen and Toubro Ltd (L&T) climbed 1.33% to ₹ 1,672.35.
Auto sector shares advanced. Eicher Motors Ltd rose 2.96% to ₹ 7,400, Mahindra and Mahindra Ltd added 0.28% to ₹ 1,173.65, while Hero MotoCorp Ltd gained 0.17% to ₹ 2,644.45.
Crompton Greaves Ltd declined 0.76% to ₹ 195.95. The company got an order worth €150 million.
Jayaswal Neco Industries Ltd rose to ₹ 16.94, up 5%, after it approved issue of 4 crore shares at ₹ 25 each on a preferential basis. The proceeds will be used to fund the company’s expansion projects.
Since the beginning of this year, Sensex has gained 18.8%, while foreign institutional investors have bought $9.85 billion from local equity markets.
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