Business Standard

Sensex halts rally, RIL & Coal India fall

Related News

The Bombay Stock Exchange benchmark index, the Sensex, fell 0.3 per cent on Thursday as investors locked in gains after a three-day rally had sent the index to its highest close in more than six months, with another delay in sealing a crucial bailout for Greece also dampening appetite.

Energy major Reliance Industries (RIL) fell 2.9 per cent to its lowest close this month, and extending losses to a third day, on growing worries about falling gas output from its key D6 block. lost 4.2 per cent after surging more than seven per cent in the previous session.

Coal India, the world's biggest coal miner, slumped 5.8 per cent — its biggest fall in more than seven months — on concerns that a government order to sign a 20-year guaranteed coal supply contract with power producers may hurt earnings. Brokerage downgraded it to "sell" from "outperform" and cut target price to Rs 315 from Rs 350, dealers said.

The closed 0.3 per cent lower at 18,153.99, with 14 of its components ending lower. It had climbed 2.6 per cent in the past three sessions and is up 17.5 per cent since December.

Read more on:   
|
|
|
|
|
|

Sensex halts rally, RIL & Coal India fall

The Bombay Stock Exchange benchmark index, the Sensex, fell 0.3 per cent on Thursday as investors locked in gains after a three-day rally had sent the index to its highest close in more than six months, with another delay in sealing a crucial bailout for Greece also dampening appetite.

The Bombay Stock Exchange benchmark index, the Sensex, fell 0.3 per cent on Thursday as investors locked in gains after a three-day rally had sent the index to its highest close in more than six months, with another delay in sealing a crucial bailout for Greece also dampening appetite.

Energy major Reliance Industries (RIL) fell 2.9 per cent to its lowest close this month, and extending losses to a third day, on growing worries about falling gas output from its key D6 block. lost 4.2 per cent after surging more than seven per cent in the previous session.

Coal India, the world's biggest coal miner, slumped 5.8 per cent — its biggest fall in more than seven months — on concerns that a government order to sign a 20-year guaranteed coal supply contract with power producers may hurt earnings. Brokerage downgraded it to "sell" from "outperform" and cut target price to Rs 315 from Rs 350, dealers said.

The closed 0.3 per cent lower at 18,153.99, with 14 of its components ending lower. It had climbed 2.6 per cent in the past three sessions and is up 17.5 per cent since December.

image

Read More

M&M gains on post February sales numbers

The company reported 11% year-on-year growth in its auto sales numbers at 47,824 units in February 2013.

Recommended for you

Quick Links

Market News

Nickel rises by 0.1% on Asian cues

Traders strengthened positions amid a firming Asian cues

Oil prices rise further in Asia

Expectations of a decline in US crude inventories and robust economic data from the eurozone helped prices

Markets remain rangebound; HUL up over 2%, Hindalco dips 1%

Investors are optimistic about a possible solution between Greece and its international creditors to avert a debt crisis

Pharma shares in focus; Aurobindo Pharma hits new high

JB Chemicals, Alembic Pharma, Aurobindo Pharma, Ipca Laboratories and Dishman Pharma were up 3%-11% each.

Infinite Computer gains on board approval for share buyback proposal

The stock spurted 5% at Rs 171 after the board approved the buyback of shares at a maximum price of Rs 220 per share from the open market ...

 

Back to Top