RIL Falls By 2.8 Per Cent On Profit-booking

Mumbai, Sept 18: | Updated: Sep 19 2003, 05:30am hrs
The stock of Reliance Industries Ltd (RIL) fell by 2.79 per cent on The Stock Exchange, Mumbai on (BSE) Thursday on account of profit-booking by domestic institutions and closed under Rs 400 mark.

The stock opened at Rs 407 which was also the days high before finally settling lower at Rs 394.05 on BSE.

On The National Stock Ex-change (NSE) RIL lost ground by 3.61 per cent to end the day at Rs 395.35, as compared with its previous close of Rs 410.15.

The stock touched a low of Rs 392 on both BSE and NSE. A total of 39,95,012 shares changed hands on BSE, while on NSE it clocked trading volumes of 87,25,249 shares.

Dealers said that the mood was subdued in the markets on account of the HPCL and BPCL divestment being referred for Parliamentary approval and selling by institutions pulled the stock down.

Said a dealer with a domestic brokerage house, Although the correction is likely to continue for sometime, RIL should lead the rally when the sentiment improves.