Reliance Industries sell-off weighs on markets

By: |
July 16, 2020 8:25 AM

The 30-share index Sensex was up by 18.75 points or 0.05% to close at 36,051.81 whereas, benchmark Nifty was up by 10.85 points or 0.10% to close at 10,618.2.

Reliance Industries, india stock market, bharti airtel, sensex, equity markets, stock price, nifty, RIL shares, market newsThe decline in the stock market can be attributed to the fall in the stock of Reliance Industries, which started when the oil to telecom conglomerate’s AGM was underway.

India’s stock markets on Wednesday gave up their gains and were dragged down by heavyweights such as Reliance Industries (RIL) on account of profit taking. Bharti Airtel also contributed to the drag in the equity markets. The 30-share index Sensex was up by 18.75 points or 0.05% to close at 36,051.81 whereas, benchmark Nifty was up by 10.85 points or 0.10% to close at 10,618.2.

The decline in the stock market can be attributed to the fall in the stock of Reliance Industries, which started when the oil to telecom conglomerate’s AGM was underway. The stock price corrected by 3.8% during the day’s trading session to close at Rs 1842.35. It was the top loser in Nifty on Wednesday.

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