Sensex dips 177 pts despite grand debut by RPL

Mumbai, May 11 (UNI) The benchmark index of the Bombay Stock Exchange (BSE) dipped sharply by 176.97 points to 12,435.41 points on the back of Left parties winning the State Assembly election in West Bengal and Kerala.

The markets were in a correction mode right from the morning but it was a sharp dip in the post-afternoon session as the 30 share Sensitive Index (Sensex) dipped 274 points from days high of 12,671 points to a low of 12,397 points.

The final closing at 12,435.41 marked 1.40 per cent loss from the last close of 12,612 points.

It was also a day when Reliance Petroleum Limited (RPL) made its grand debut in the stock markets opening at Rs 101.95 on the BSE and at Rs 99.95 on the National Stock Exchange (NSE).

RPL finally closed at Rs 85.45 on the BSE with more than 7.27 crore shares worth Rs 700 crore traded.

On the NSE RPL closed at Rs 85.40 with a huge 31.51 crore shares worth Rs 2,792 crore traded.

Mukesh Ambani struck the gong at 0954 hrs in the BSE central hall marking the birth of RPL in the capital market this morning.

RPL touched a high of Rs 105 on the NSE before profit booking led it to slide below Rs 100.

With the RPL lisiting today, the marketcap of the Mukesh Ambani group crossed Rs two lakh crore mark.

Earlier Sensex opened higher at 12,631 points as compared to the last close of 12,612 points but then became volatile since early morning as investors booked profit in RPL, Reliance Industries and ONGC primarily.

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