Sensex, Nifty End In Red; Reliance Industries Falls 2%

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Mumbai, Sensex and Nifty ended on a weak note in trades today on the back of selling pressure in index heavyweights like Reliance Industries, HDFC and Axis Bank.

The Sensex ended 53 points lower at 28,077 and Nifty declined 6 points to close at 8,693.

Earlier in the day, Sensex fell as much as 172 points and Nifty hit a low of 8,652. However, a late recovery in banking shares helped benchmark indices pare losses to end marginally lower.

From the Nifty basket of shares, 27 ended higher while 24 closed lower.

Reliance Industries was among losers in the Nifty despite reporting strong September quarter earnings post market hours on Thursday. The stock closed 2.15 per cent lower at Rs.1,064. ACC, Axis Bank, Ambuja Cements, Cipla, HDFC, Hindalco and State Bank of India were also among the laggards.

On the other hand, HCL Technologies was among the Nifty gainers, the stock advanced 2 per cent to close at Rs. 832 after the company in morning reported Q2 numbers which were better than estimates.

Idea Cellular, Tech Mahindra, IndusInd Bank, HDFC Bank and TCS were also among the gainers.

The broader markets ended on a flat note. The BSE mid-cap index jumped 0.3 per cent and small-cap index rose 0.1 per cent.

The overall market breadth was neutral as 1,457 stocks ended higher while 1,315 closed lower on the BSE.

3:25 p.m.: The stock markets came off the intraday lows on the back of buying in HDFC Bank, TCS and Hindustan Unilever. The Sensex was down 41 points at 28,088 and Nifty was at 8,697, down 3 points.

2:30 p.m.: The Sensex continues to reel under selling pressure, falls 150 points and Nifty hovers around 8,650.

2:09 p.m.: Titan Company, Torrent Pharma, Mlhasis, LIC Housing Finance, Oriental Bank of Commerce, Cummins India, Bank of India, MRPL and Castrol India were among the laggards from the mid-cap space.

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