Sensex sheds early gains as RIL tumbles

Mumbai, Oct 23 (PTI) The Bombay Stock Exchange benchmark
Sensex Friday closed flat after a sharp plunge in Reliance
Industries, triggered by reports of poor gas find in one of
its wells, erased early gains.

The 30-share benchmark Sensex, which gained 217.03 points
in the morning, closed 21.07 points up at 16,810.81.
The wide-based National Stock Exchange index Nifty
shuttled between 5,054.95 points and 4,983.25 points, before
closing with a gain of 8.45 points at 4,997.05.
Sensex-heaviest Reliance Industries tumbled over four per
cent, or by Rs 86.25, to Rs 2,047.30 after one of its
partners, Britain's Hardy Oil and Gas, said that it is
abandoning work on an exploratory well in a Krishna Godavari
basin block owing to poor gas find.
In the 30-share BSE index, 18 scrips closed with gains,
while 12 ended lower, led by RIL, Reliance Infra, RCom, Tata
Motors and Tata Steel.
However, a weakening market was capped on reports of a
better closing in Asian stock markets and a higher opening in
the Eruopean stocks this afternoon. (MORE) PTI RS
ANU


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