Markets end 0.5% down dragged by Reliance

Markets end 0.5% down dragged by Reliance

Mumbai: Erasing early gains, the Bombay Stock Exchange benchmark Sensex on Tuesday closed down by 103 points on profit-booking by funds in blue-chip stocks.

The 30-share Sensex settled the day lower 103 points at 17,223.01. The key index touched the day’s high of 17,457.26 in continuation of gains in the last two sessions before registering the fall.

The wide-based National Stock Exchange index Nifty fell by 27.35 points to 5,114.45, after rising to 5,181.95.

A weak opening in European stock markets fuelled selling among overseas and general investors.

In the 30-BSE index-linked stocks, 18 closed with losses and 12 ended in positive zone.

Reliance Industries, the most valuable and a heaviest on the Sensex, slid the most in more than a month by losing 1.84% to Rs2,183.85.

Incidentally, the the Supreme Court today begun hearing the gas supply dispute case between RIL and Anil Ambani Group company RNRL.

Another heavyweight Infosys Technologies closed down by 0.36% to Rs2,185.65. The two carry nearly 24% weight on the Sensex.

Dtocks in oil and gas, consumer durables, capital goods, healthcare, power, teck, bank and FMCG sectors recorded small to notable losses.

However, the falling trend was capped as stocks in realty, metal, IT and auto segment recorded some gains.

The oil and gas sector index suffered the most by 1.70% to 10,511.23 followed by consumer durable index by 1.50% to 3,764.90. Capital goods index fell by 1.21% to 14,093.32.

On the other hand, realty sector index gained 0.90% to 4,729.45 followed by metal index by 0.81% to 15,911.44. IT index gained 0.34% to 4,401.60.