RIL shares down for 6th day in row

At the NSE,the stock closed at Rs 697.60,down 1.52 per cent.

“Falling gas output from the KG-D6 blocks and the company cutting estimates for natural gas has played spoilsport for the stock. Also,the stock is technically weak at present,” Unicon Financial Solutions CEO Gajendra Nagpal said.

The stock closed below the crucial Rs 700 mark after four months.

RIL was the biggest drag on the Sensex and contributed over 29 points to the overall fall in benchmark index.

In the last six days,the heavyweight stock has lost 6.72 per cent.

Reliance Industries has cut estimate of natural gas reserves of its eastern offshore KG-D6 block by a little less than 7 per cent,leaving over 6 trillion cubic feet of reserves still left to be recovered.