Sensex falls for third day in a row

The BSE Sensex fell for the third session on Monday on brisk selling in heavyweight RIL.

The BSE Sensex fell for the third session on Monday,losing nearly 2.38 per cent on brisk selling in heavyweight RIL because the Bombay High Court order on the gas price was seen as a setback to the Mukesh Ambani-led firm.

The 30-stock BSE sensitive index,or Sensex,fell by 362.42 points at 14,875.52,after touching the day’s low of 14,807.26,as the index-heaviest Reliance Industries stock fell 7.48 per cent to Rs 2,180.45. The key index lost nearly 230 points in the last two sessions.

Similarly,the 50-share National Stock Exchange index Nifty dipped to a low of 4,469.60,before ending with a loss of 99.40 points at 4,484.00.

Story continues below this ad

Selling pressure gathered momentum after the Bombay High Court ruled today that RIL has to supply 28 million cubic metres of gas per day at 2.34 dollar per mmBtu for 17 years to Reliance Natural Resources Ltd.

The oil and gas sector index suffered the most,4.51 per cent,to 10,035.64 following a steep fall in stocks of oil-processing company stocks led by RIL. RIL alone carries nearly 18 per cent weight in the benchmark.

A weakening trend in base metal prices remained a negative factor for the market. The metal sector index was the second-worst loser,3.86 per cent,to 11,748.54 as Sterlite Industries,the countrys largest copper producer,was down 7.61 per cent,and Hindalco Industries 4.58 per cent.

Tags:
BSE
NIFTY
NSE
Sensex

PM Modi releases special coin, stamp to mark 100 years of RSS

India2 hr ago

Prime Minister Narendra Modi said that Rashtriya Swayam Sevak Sangh [RSS] had suffered at the hands of British and Nizams for its belief of ‘nation first’. He also said RSS members, including founder KB Hedgewar, had been jailed during the freedom struggle. Modi released a special commemorative postage stamp and a coin to mark the centenary of the RSS.

View all shorts

Live Blog

PHOTOS