RIL disappoints, Nifty breaks 7-day winning streak
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
points.
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