Reliance defies Dalal Str,ends in redhttps://indianexpress.com/article/news-archive/web/reliance-defies-dalal-str-ends-in-red/

Reliance defies Dalal Str,ends in red

After hitting a year-high during the trade today,shares of Reliance Industries Ltd erased all gains.

After hitting a year-high during the trade today,shares of Reliance Industries Ltd (RIL) erased gains to end marginally lower on BSE as investors booked profits.

Defying the strength in the Dalal Street,RIL,which enjoys the maximum weightage on the 30-share benchmark Sensex,closed at Rs 1,093.10,down 0.25 per cent from previous close on the Bombay Stock Exchange.

Mukesh Ambani-led RIL had on Saturday posted its highest ever net profit of Rs 4,923 crore,a jump of 27.8 per cent in the July-September quarter,as opposed to Rs 3,852 crore in a year-ago period.

Boosted by the smart numbers,the scrip had touched its 52-week peak with a gain of a whopping 8.32 per cent during the session,but could not sustain the momentum on the back of profit-booking.

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Shares of the country’s most valued firm witnessed a similar trend on the National Stock Exchange and declined by 0.39 per cent to finish at Rs 1,092. In terms of volume,about 77 lakh shares of the company were traded on the bourses. “The jump in the stock was driven by the increased investors’ confidence on account of the robust second quarter results reported by RIL. But later,the scrip lost ground due to profit booking amid a strong broader market,” CNI Research CMD Kishore P Ostwal said.

Meanwhile,the 30-share benchmark Sensex closed with a handsome gain of 323.29 points at 20,355.63.