Business

RIL, REL hog limelight

MUMBAI: The benchmark Sensex ended 37 points down on the Bombay Stock Exchange on Wednesday on profit-selling in heavy-weight stocks, even as the shares of Reliance Industries and Reliance Energy hit highest levels in a year.

The Sensex, which opened the day with a 118 point gain, later fell to end with a loss of 37.41 points at 15505.36 against Tuesday’s close of 15542.77 on profit-selling in stocks of capital goods, banking and IT sector. It touched an intra-day high of 15,661.44 and low of 15,486.81 points.

Marketmen said a slowdown in industrial growth to 7.1 per cent in July as compared to 13.2 per cent in the same month a year ago also affected investors’ sentiment.

The S&P CNX Nifty of the National Stock Exchange, however, ended flat at 4496.85.

Meanwhile, shares of Reliance Industries (RIL) zoomed past the Rs. 2,000 level to touch the 52-week high of Rs. 2,022. Similarly, Reliance Energy also hit its 52-week high of Rs. 901.60. Both the scrips, however, closed below these levels.

REL surged by four per cent on reports that the apex court has allowed the company to bid for Rs. 2,600 crore Mumbai sea link project, while RIL scrip rose on likely approval of its gas pricing formula. — PTI

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