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Sensex loses most gains to end flat after sell-off in Reliance Industries

Indices fall over 2% from day's high

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Shares of RIL climbed 3.2 per cent to a new record of Rs 1,979, ahead of its much-watched annual general meeting

2 min read Last Updated : Jul 16 2020 | 2:10 AM IST

The benchmark indices Sensex and Nifty ended flat, after slipping more than 2 per cent in the last hour of trade amid a sell-off in Reliance Industries (RIL) and banking heavyweight HDFC Bank. Information technology (IT) stocks, however, logged strong gains, buoyed by better-than-expected results of Wipro.

In intra-day trade, the Sensex rose as much as 777 points — recouping more than the previous day’s 661-point fall — amid sharp overnight gains on the Wall Street, as success of a potential Covid-19 vaccine that is in early stage trials boosted sentiment. The optimism also lifted most Asian and European markets.

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