RIL disappoints, Nifty breaks 7-day winning streak

Posted By: Samyuktha
Subscribe to Oneindia News

Mumbai, Jun 18: Against high expectations, the Reliance Industries Annual General Meeting (AGM) turned out to be huge disappointment for the markets. Dragged by both Reliance groups' stocks, Nifty broke the seven-day northbound campaign and shut shop lower.

NSE Nifty closed at 5262.60, down 12.25 points while BSE Sensex shut shop 45.87 points lower, at 17,570.82.

On the whole, the benchmarks were in consolidation mode. However, the highlight of the day was that Nifty hit the 5300 mark during the day's trade for the first time since Apr 27.
4: 36 PM

Sensex consolidates; RIL dips 1 pc

After seeing strong trade over the week, Sensex was consolidating at its previous closing. Nifty was also in the red.

At 2: 20 pm, BSE Sensex was at 17,585.27, down 31.42 points while NSE Nifty was at 5264.25, down 10.60.

Selling pressure was seen in power, metal, private banking, telecom and healthcare. On the positive side, capital goods, FMCG and technology shares were supportive while Hero Honda, Jindal Steel, SBI, IDFC, Tata Power, Tata Motors, M&M, Ambuja Cements and Unitech were among the other gainers.

Following the active trade before the Reliance Industries Annual General Meet (AGM), RIL dipped 1 per cent and Anil Dhirbhai Ambani Group companies' shares were also witnessing pressure. Reliance Communications, Reliance Power, Reliance Capital and Reliance Infrastructure slipped 1 to 2.4 per cent.

However, Reliance Infrastructure rose 2 per cent.
2: 28 PM

Sensex dips; RIL most active share

After opening flat, Sensex turned extremely volatile and dipped into the red zone and Nifty followed the suit. At 12: 10 pm, BSE Sensex was at 17,595.28, down 21.41 points while NSE Nifty was at 5265.70, down 9.15

During the Annual General Meeting, Reliance Industries attracted buying interest. ADAG companies like Reliance Communications and Reliance Power were also up.

Hero Honda, BHEL, Tata Power, ITC, SBI, M&M, TCS, Ambuja Cements, Unitech, Reliance Capital and IDFC were the other gainers.

The markets were gaining support from heavyweights RIL and L&T.

The most active shares were Reliance Industrial Infra, Reliance Industries, Reliance Natural Resources, Reliance Communications, Reliance Power and L&T.
12: 17 PM

Mkts open flat on lack of global cues

With the US markets as well as Asian markets flat, the lack of global cues has led to the Indian benchmarks to open the day on a flat note too.

At 9:02 am, NSE Nifty was trading at 5284, up just 9 points and BSE Sensex was at 17657, up 41 points. The CNX Midcap Index gained 22 points to 8049 and BSE Smallcap Index went up 22 points to trade at 8913.

Buying interest was seen in auto and technology stocks while financials were trading in the red.

Ahead of RIL's Annual General Meeting (AGM), Reliance groups' shares were also seeing buying interest. Reliance Industries gained nearly 1 per cent.

Anil Dhirubhai Ambani Group companies' shares were also trading green. Reliance Power, Reliance Communications and Reliance Infrastructure rose 1 to 1.5 per cent.

Among the other frontliners seeing buying interest were Infosys, Suzlon Energy, BPCL, Jaiprakash Associates, L&T, ONGC, ITC and Tata Steel.

On the other hand, Sterlite Industries, Hindalco, Ambuja Cements, ICICI Bank, HDFC Bank, Maruti, HUL and NTPC were in the red.

Among the Midcaps and Smallcaps, Uflex gained 3 per cent, Brigagde went up 5 per cent,
Duncans and United Phosphorous rose 2 per cent each and Vishal Retail surged 5 per cent.

IOC, Triveni Engg, Pipavav Shipyard, Sesa Goa and Gujarat NRE Coke were the other gainers. However, Bajaj Finserv dipped 10 per cent and TTK Prestige plunged 5 per cent.
9: 40 AM

OneIndia News

Please Wait while comments are loading...