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RIL dips 1 per cent in morning trade

Corporate behemoth Reliance Industries was trading in the negative territory on Thursday and fell over one per cent in the opening trade.

Written by Agencies | Mumbai | Published: April 23, 2009 11:33:58 am

Corporate behemoth Reliance Industries was trading in the negative territory on Thursday and fell over one per cent in the opening trade on the Bombay Stock Exchange,ahead of its fourth quarter results that is expected later in the day.

Reliance Industries opened in a firm note at Rs 1,725 and then soon lost ground to dip to an intra-day low of Rs 1,697.65,a fall of more than one per cent from its previous closing price.

On the National Stock Exchange,the company opened at Rs 1,717,then fell 1.28 per cent and witnessed a day’s low of Rs 1,696.

On the volume front,more than seven lakh shares exchanged hands on both the exchanges.

Marketmen said the counter witnessed nervous trading amid its fourth quarter results expected to be declared after market trading hours on Thursday.

The scrip was later trading at Rs 1,713.80,down 0.13 per cent on the BSE and on the NSE,it was quoted down 0.35 per cent at Rs 1,712.

Reliance Industries,which has the biggest weight in the benchmark index dragged the 30-share Sensex,which was later quoted at 10,799.51,down 18.03 points after opening in a positive note.

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