Sensex down after recent gains; RComm rises

Reuters Market Eye - The Sensex and the Nifty are down 0.1 percent after gaining for four consecutive sessions. Investors are turning more cautious ahead of January-March earnings due starting next week after the Sensex gained 1.92 percent in the previous four sessions.

Defensive shares fall after recent gains: ITC falls 1 percent and Hindustan Unilever is down 1.2 percent after gaining 1.6 percent and 2.1 percent in the previous four sessions.

Reliance Communications Ltd rises 5.6 percent, a day after announcing a fibre optic network sharing deal with a unit of Reliance Industries , which is widely seen as benefiting both companies.

 

Other companies controlled by billionaire Anil Ambani gain on hopes the deal would lead to increased tie-ups with brother Mukesh Ambani.

Reliance Infrastructure Ltd rises 2.2 percent, while Reliance Capital Ltd gains 1.43 percent.

(Reporting by Manoj Dharra)