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Sensex slips 94 points post RIL earnings

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sensex-slips-94-points-post-ril-earningsMumbai: The benchmark BSE Sensex fell by over 94 points in early session on Friday after sentiment was dampened by Reliance Industries’ second quarter earnings numbers, which were announced on Thursday.

The 30-share index, which had gained 145.47 points in the previous session, dropped by 94.24 points, or 0.34 per cent, at 28,035.60, with oil and gas, metal, banking, PSU and capital goods sectors bringing about the fall.

Similarly, the NSE Nifty index edged lower by 24.30 points, or 0.27 per cent, to 8,675.10.

Brokers said selling by funds as well as retailers gathered momentum after Reliance Industries on Thursday reported a 23 per cent drop in its second quarter consolidated net profit, which had a bearing on stock movement.

RIL shares fell 1.73 per cent to Rs 1,069.65 in early trade after the consolidated net profit in July-September came in at Rs 7,206 crore, 22.9 per cent lower than Rs 9,345 crore in the same period a year ago.

However, a better trend in other Asian bourses restricted the losses on the domestic markets, the brokers added.

Japan’s Nikkei rose 0.29 per cent while Shanghai Composite Index rose 0.20 per cent in early trade. Hong Kong’s financial markets are closed Friday morning due to a typhoon.

The afternoon trading session will also be cancelled if the storm signal remains up at noon.

The US Dow Jones Industrial Average had ended 0.22 per cent lower in Thursday’s trade.


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