Sensex dips below 16,000; RIL takes a hit

Mumbai, Oct 30 (PTI) Paring initial gains, the benchmark
Sensex Friday closed below 16,000 level on selling pressure
sparked by a drop in profit of Reliance Industries, India's
most valued company.

The Sensex, which gained nearly 300 points in early
trade, fell back to show a loss of 156.44 points at 15,896.28
as blue-chips Reliance and Infosys fell on profit-selling at
existing higher levels.
Among 30 sensex stocks, 19 declined and 11 ended with
gains.
Shares of Reliance Industries fell by nearly 3.62 per
cent to Rs 1,931.25, a day after the company reported a 6.4
per cent drop in its net profit for the second quarter of the
fiscal.
Second heaviest on the benchmark, Infosys Technologies
lost 0.10 per cent to Rs 2,205.40. The two carry nearly 23
per cent weight on the Sensex.
Similarly, the wide-based National Stock Exchange index
Nifty lost 38.85 points at 4,711.70, after touching the day's
low of 4,687.50.
The oil and gas sector index suffered the most by 2.79
per cent to 9,434.43 followed by teck index by 1.93 per cent
to 2,855.37. (MORE) PTI RS
DDC


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